Bosicor Pakistan Limited, the country's fifth crude oil refinery, is poised to set up 14 petrol pumps for establishing a foothold in the lucrative petroleum marketing segment of the oil industry.
In an interview with Business Recorder, the company's spokesman said the company had the marketing licence which was being activated and quality petrol pump-owners and operators had approached the company, seeking to establish agency/dealership and making those petrol pumps operative in near future.
The board has allocated a substantial amount of Rs 300 million for the purpose of establishing a new petroleum business unit, which would have own unique product and corporate brand identity.
The new marketing business has been planning to establish approximately 120 petrol pumps within next 18-24 months, but the company will pay close attention to the side economics and location for maximising the per yield of the outlets.
Besides, the company is well on the way to establish country's first single point mooring system (SPM) offshore from Kunzako near Khalifa Point. This SPM would be capable of discharging 100 metric tonnes crude oil in the first phase and over 150,000 metric tonnes at the later stage, which is significantly larger than the present capacity. The total project cost is approximately 43 million dollars.
The floating buoy has arrived in the country and the task of pipeline installation is expected to commence in near future. The commissioning of the pipeline will help in substantial cost saving to the country.