Pakistan State Oil

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Template:Short description Template:Use Pakistani English Template:Use dmy dates Script error: No such module "Infobox".Template:Template otherScript error: No such module "Check for conflicting parameters".Script error: No such module "Check for unknown parameters". Pakistan State Oil Company Limited (PSOCL) operating as PSO, is a Karachi-based, state-owned energy company. Established in 1976, the company operates in the oil and gas industry.[1]As of 2024, it maintains a network of 3,580 retail outlets, nine installations, 19 depots, refueling facilities at 14 airports, and operations at two major seaports. It also has the country’s largest storage capacity of 1.24 million tons, PSO supplies fuel to 3 million customers daily, and holds a market share of 51.6% in Pakistan's downstream oil market.[1][2][3][4]

History

Script error: No such module "Labelled list hatnote". PSO's history dates back to January 1, 1974, when the Government of Pakistan took control of Pakistan National Oil (PNO) and Dawood Petroleum Limited. These entities merged to form the Premier Oil Company Limited (POCL) under the Federal Control Act 1974.[5]

On June 3, 1974, the government established the Petroleum Storage Development Corporation (PSDC), which later transformed into the State Oil Company Limited (SOCL) on August 23rd, 1976.[6]

The following year, PSO acquired ESSO undertakings on September 15, 1976, with control vested in State Oil Company Limited (SOCL). Following that, the ESSO undertakings were purchased on 15 September 1976, and control was vested in the State Oil Company Limited (SOCL). This was followed by the merger of POCL and SOCL on December 30, 1976, leading to the formation of Pakistan State Oil Company Limited.[5]

Headquarters and offices

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.[7]

In 2023, PSO inaugurated an aircraft re-fueling facility at Skardu International Airport. This move establishes PSO as the only oil marketing company in Pakistan to extend its services to Gilgit-Baltistan region. [8][9]

The Government of Pakistan owns 22.47% of the PSO with a total of 51% direct and indirect investment. PSO owns 63.6% of Pakistan Refinery Limited. The company has established a network of incorporated subsidiaries managed from Karachi: Cerisma (Private) Limited, PSO Renewable Energy (Private) Limited and PSO Venture Private Capital (Limited). In 2024, PSO proposed swapping debt for stake in public sector companies including Pakistan International Airlines.[10][11]

See also

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References

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  1. ↑ a b Script error: No such module "citation/CS1".
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  5. ↑ a b Pakistan State OIl – The Market leader with a vision Business Recorder, Published 3 May 2004, Retrieved 14 September 2020
  6. ↑ Script error: No such module "citation/CS1".
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  10. ↑ Script error: No such module "citation/CS1".
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External links

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