KARACHI - Byco Petroleum Pakistan Limited (BPPL) has effectively screened cash flows of the Oil and Gas Development Company Limited (OGDCL) from current or future circular debt since June 2013, as BPPL is the only oil refinery in the country to commence purchasing crude oil from OGDCL against letters of credit. By following the purchase process, Byco is ensuring that OGDCL does not face possibilities of any irrecoverable debts and deficits.

The process is particularly followed by Byco to ensure that the country’s oil and gas giant, OGDCL, stays free of any potential financial woes. 

This also reiterates the fact that any purchase Byco made from OGDCL was not free of cost and was done under allocation by the Ministry of Petroleum & Natural Resources.