| Type | Public (KSE: PSO) |
|---|---|
| Industry | [Oil companies |
| Founded | 15 January 1985 |
| Headquarters | Karachi |
| Key people | Sardar M. Yasin Malik, Chairman Jahangir Ali Shah, Managing Director |
| Products | Oil, Natural gas, Petrochemicals |
| Revenue | U.S. $9.5 billion (2011) (#20 on DS 100 2010) |
| Net income | U.S. $338 million(2011) |
| Owner(s) | Government of Pakistan |
| Employees | 2,000 |
| Website | www.psopk.com/ |
Pakistan State Oil (PSO) is the oil market leader in Pakistan. Its well established infrastructure, built at par with international standards, represents 82% of country’s storage. [1]
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PSO came into being in the mid-1970s 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 foreign multinationals, Shell, Caltex and Total.
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.
The Pakistani Government holds approximately 54% stake in Pakistan State Oil, including both direct holdings of the Federal Government and indirect holdings through government owned institutions. The Government is currently in the advanced stages of divesting 51% of its stake in PSO to a strategic investor.
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