Pakistan State Oil ();

reporting name NATO reporting names are code names for military equipment from Russia, China, and historically, the Eastern Bloc (Soviet Union and other nations of the Warsaw Pact). They provide unambiguous and easily understood English words in a uniform manne ...

: PSO) is a

Karachi Karachi (; ur, ; ; ) is the most populous city in Pakistan and 12th most populous city in the world, with a population of over 20 million. It is situated at the southern tip of the country along the Arabian Sea coast. It is the former cap ...

-based

Pakistan Pakistan ( ur, ), officially the Islamic Republic of Pakistan ( ur, , label=none), is a country in South Asia. It is the world's List of countries and dependencies by population, fifth-most populous country, with a population of almost 24 ...

i state-owned petroleum corporation involved in marketing and distribution of petroleum products. It has a network of 3,689 petroleum

filling station A filling station, also known as a gas station () or petrol station (), is a facility that sells fuel and engine lubricants for motor vehicles. The most common fuels sold in the 2010s were gasoline (or petrol) and diesel fuel. Gasoli ...

s, out of which 3500 outlets serve the public retail sector and 189 outlets serve wholesale bulk customers. ''Pakistan State Oil'' is Pakistan's largest fuel marketing company.Company profile of Pakistan State Oil on Forbes.com website
Retrieved 14 September 2020Pakistan State OIl – The Market leader with a vision
Business Recorder (newspaper), Published 3 May 2004, Retrieved 14 September 2020

Company overview

PSO controls a market share of over 60% of the total oil market with customer portfolio including dealers, government agencies, autonomous bodies, independent power projects and other corporate customers. It is involved in import, storage, distribution and marketing of a range of petroleum products including gasoline, diesel, fuel oil, jet fuel, LPG, CNG and petrochemicals. It was founded on December 30, 1976, after Pakistan's government took over the management of Pakistan National Oil (PNO) and Dawood Petroleum Limited, Esso Eastern and renamed into POCL (Premier Oil Company Limited) for marketing of Petroleum Products. PSO is the first public company in Pakistan to pass the PKR 1 trillion revenue mark. Pakistan State Oil has been a member of the prestigious

World Economic Forum The World Economic Forum (WEF) is an international non-governmental and lobbying organisation based in Cologny, canton of Geneva, Switzerland. It was founded on 24 January 1971 by German engineer and economist Klaus Schwab. The foundation, ...

since 2003.Its primary listing is on the

Pakistan Stock Exchange The Pakistan Stock Exchange ( ur, , abbreviated as PSX) is a stock exchange in Pakistan with trading floors in Karachi, Islamabad and Lahore. PSX was classified by MSCI as a frontier market on 8 September 2021. The PSX was established on 11 ...

. The State-owned Pakistan State Oil Co. has 3,500 petrol pumps. Where as Cnergyico has 982 petrol pumps, Total Parco Pakistan Ltd. has 800 petrol pumps and Shell Pakistan Ltd. has 766 petrol pumps. The PSO posted 86 billion rupees of net profit in 2021-22 financial year.However in 2020-21 PSO profit was 30 billion rupees.In the financial year ended 2021-22 thanks to all time high petroleum imports of US 19 billion dollars for Pakistan the oil giant managed to up 196% of profits from last yea
PSO profit 86 billion rupees

History

The creation of Pakistan State Oil (PSO) can be traced back to the year 1974, when on January 1; the government took over and merged National Oil (PNO) and Dawood Petroleum Limited (DPL) as Premiere Oil Company Limited (POCL). Soon after that, on 3 June 1974, Petroleum Storage Development Corporation (PSDC) came into existence. PSDC was then renamed as State Oil Company Limited (SOCL) on August 23, 1976. Following that, the Esso undertakings were purchased on 15 September 1976 and control was vested in SOCL. The end of that year (30 December 1976) saw the merger of the Premier Oil Company Limited and State Oil Company Limited, giving way to Pakistan state Oil (PSO). After PSO's inception, the corporate culture underwent a comprehensive renewal program which was fully implemented in 2004. This program over the years included the revamping of the organizational architecture, rationalization of staff, employee empowerment and transparency in decision making through cross functional teams. This new corporate renewal program has divided the company's major operations into independent activities supported by legal, financial, informative and other services. In order to reinforce and monitor this structural change, related check and balances have been established by incorporating monitoring and control systems. Due to this effective implementation of corporate reform and consistent application of the best industrial practices and business development strategies, PSO has been able to maintain its market leadership in a highly competitive business environment. Pakistan State Oil delivers kerosene, light diesel oil and lubricants to consumers via over 500 distributors all over Pakistan.

References

External links

Pakistan State Oil official website

Pakistan State Oil Detailed Company financials

Pakistan State Oil Annual Report 2015

Pakistan State Oil Annual Report 2016
{{DEFAULTSORT:Pakistan State Oil Automotive fuel retailers Companies based in Karachi Companies listed on the Pakistan Stock Exchange National oil and gas companies Oil and gas companies of Pakistan Government-owned companies of Pakistan Energy companies established in 1974 Non-renewable resource companies established in 1974 Pakistani brands