Pakistan State Oil
From Wikipedia, the free encyclopedia
| Pakistan State Oil | |
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| Type | Public (KSE: PSO) |
| Founded | January 1, 1974 |
| Headquarters |  Karachi, Pakistan |
| Key people | Sardar M. Yasin Malik, Chairman |
| Industry | Oil and gas |
| Products | Oil, Natural gas, Petrochemicals |
| Revenue | ▲PKR 349.7 Billion (2007) |
| Net income | ▲PKR 4.7 Billion (2007) |
| Employees | 2,000 |
| Website | www.psopk.com/ |
Pakistan State Oil (PSO) is the oil market leader in Pakistan. The well established infrastructure, built at par with international standards, representing 82% of country’s storage, provides PSO an edge over its competitors. [1]
Contents |
[edit] History
The past of PSO dates back to mid-70s when the Government of Pakistan amalgamated three “Oil Marketing Companies”: Esso Eastern, Pakistan National Oil (PNO) and Dawood Petroleum as part of its “Nationalization Plan”.
From 1999 to 2004, PSO had undergone radical changes, both internal and external and has emerged with a new look and as a market leader with a long term vision. The company is the only public sector entity in Pakistan that has been competing effectively with three multinationals (Shell, Caltex and Total) which are supported technically by their parent organizations.
PSO is currently enjoying over 73% share of Black Oil market and 59% share of White Oil market. It is engaged in import, storage, distribution and marketing of various POL products including mogas, high speed diesel (HSD), fuel oil, jet fuel, kerosene, liquified petroleum gas (LPG), compressed natural gas (CNG) and petrochemicals. PSO also enjoys around 35% market participation in lubricants and is blending/marketing Castrol brands, in addition to a wide array of its own. It is considered as one of the most successful mergers in the history of Pakistan. The company has retail coverage of over 3,800 outlets, representing 80% participation in total industry network. The company has been the winner of Karachi Stock Exchange Top Companies Award for many years and is a member of World Economic Forum.
PSO serves a wide range of customers throughout Pakistan including retail, industrial, aviation, marine and government/defence sectors. PSO has been meeting the country’s fuel needs by merging sound business sense with national obligation.
[edit] Privatisation Initiative
The Government of Pakistan (“GOP”) holds approximately 54% stake in Pakistan State Oil Company Limited (“PSO”), including both direct holdings of the Federal Government and indirect holdings through GOP owned institutions. The GOP is in the advanced stages of divesting 51% of the in PSO to a strategic investor.
Read more about Privatisation and Financial Reports
