All Praise Belongs to Allah.

Corporate Brief

Alhamdulillah we are always with you.

CVO Petrochemical Refinery Limited is a non-government petrochemical refinery which is the only public limited company in the Fuel and Power Sector and it is regulated by Bangladesh Securities and Exchange Commission. It has been carrying on business with good name from 02 April 2014 after obtaining permission from all the concerned authorities of the government complying with due regard to government regulations. The common people of the country are the owners of 50% shares of the Company. Observing the progress of the Company they have invested their hard earned money with faith in our Company. The Company has least possibility or intention to do anything unlawful with their deposit flouting the rules and method of the government. We are respectful to each rule and system of the government. The Company named CVO Petrochemical Refinery Limited was known to all as Chittagong Vegetable Oil Industries Limited before the year 2010. The Company started commercial operation in the year 1984 by producing and marketing Phulcopy brand soybean oil which gained much popularity as edible oil amongst the consumers. The Company was listed with Dhaka Stock Exchange Limited in 1990 and subsequently with Chittagong Stock Exchange Limited in 1996. In the earlier stages the Company gave satisfactory dividend to the investors from this trade. Afterwards the abnormal price hike of raw materials in the international market and also sporadic rise of mushroom edible oil factories had led to the uncertainty of the organization to survive and driven the Company to huge financial stringency. In this circumstance to overcome the situation Mr. Shamsul Alam Shamim, the worthy son of Alhaj Md. Younus, became the new Chairman after the demise of the founder Chairman. When the status of Chittagong Vegetable Oil Industries Limited was commercially and financially downward and in the sinking stage right at that moment Mr. Shamsul Alam Shamim, the newly nominated Chairman thought seriously about the greater interest of the shareholders only and steered the helm of affairs. Since the sponsors of the Company acquired wide experience in Fuel and Lubricating business through running their Filling Station for more than 70 years side by side conducting a vegetable oil factory. The Board of Directors under the dynamic leadership of Mr. Shamsul Alam Shamim, the present Chairman approved a resolution to diversify the existing Vegetable Plant into a Petrochemical Refinery Plant which was passed as special resolution by shareholders in EGM (Extra Ordinary General Meeting) on 06.05.2010. Afterwards approval was obtained from the Registrar of Joint Stock Companies and Firms vide certificate no. 937, dated: 29.07.2010 and also received the permission from the Ministry of Power, Energy and Mineral Resources to change the name of the Company. The raw material of Condensate or natural gas is the natural liquid hydrocarbon. Condensate is produced as natural gas from various gas fields under the proprietary right of Bangladesh government and conducted by international oil companies. Fractionation of this Condensate is done in the fractionation plants under the jurisdiction of various companies of Petrobangla and in the Eastern Refinery Limited under the proprietary right of Bangladesh Petroleum Corporation (BPC) with the aim of producing various petroleum products from the produced Condensate. At present the plants established in private sector sell their products such as Petrol (MS), Diesel (HSD) & Mineral Turpentine (MTT) to Bangladesh Petroleum Corporation (BPC). BPC market through their organizations viz. Padma, Meghna and Jamuna Oil Company Limited after paying VAT.