February 25, 2026 (MLN): Cnergyico Pk Limited (PSX: CNERGY)’s board has ratified a Head of Terms agreement with Asia Petroleum Limited to utilise APL’s 14-inch pipeline network for 20 years.

Under the arrangement, High Speed Diesel (HSD) will be transported from Cnergyico’s refineries to the Zulfiqarabad Oil Terminal, according to a regulatory g issued on Wednesday.

From there, supplies would connect onward to the White Oil Pipeline (WOP) system and storage facilities at Port Qasim, creating a direct refinery-to-terminal corridor for diesel distribution.

The arrangement, subject to regulatory approvals and completion of physical connectivity, is expected to cut reliance on tanker trucks, easing highway congestion, lowering accident risks and improving delivery reliability.

Pipeline transport also typically reduces logistics costs and losses compared with road haulage.

Cnergyico’s board has authorised management to finalise and sign definitive agreements upon the satisfaction of the conditions precedent.

The company said the disclosure aims to ensure timely communication of material developments to the market.