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Pakistan State Oil
Pakistani state-owned oil company From Wikipedia, the free encyclopedia
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Pakistan State Oil Company Limited (PSOCL) operating as PSO, is a Karachi-based, state-owned energy company of Pakistan. Established in 1976, the company operates in the oil and gas industry.[4] 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 of the country. It also has the country’s largest storage capacity of 1.24 million ton. PSO supplies fuel to 3 million customers daily, and holds a market share of 51.6% in Pakistan's downstream oil market.[4][5][6][7]
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History
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.[8]
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 23, 1976.[9]
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.[8]
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Headquarters and offices
PSO House, the company’s headquarters, is located in Karachi with divisional offices in cities across Pakistan, including Islamabad, Peshawar, Lahore, Multan, Sahiwal, Faisalabad, Bahawalpur, DIK, Jehlum, Gujranwala, Sukkur, Hyderabad, and Quetta.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.[10]
In 2023, PSO inaugurated an aircraft refueling 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.[11][12]
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Expansion
- VIBE Convenience Store: In 2024, PSO launched a branded convenience store concept at select fuel stations in Karachi, incorporating retail services alongside fuel sales[13][14][15]
- Blue LPG Initiative: In partnership with the Government of Gilgit-Baltistan, PSO initiated a household LPG distribution program in Hunza in 2024. The service was extended to Gilgit city in 2025[16][17][18][19][20]
- Pakistan Railway’s Fuel Infrastructure: PSO upgraded fuel storage and supply systems at eight locations used by Pakistan Railways to improve logistical operations [21][22][23][24]
Strategic Investments
PSO holds strategic equity stakes in several energy-related companies, including:
- Pakistan Refinery Limited (PRL) – 63.6% [25][26]
- Joint Installation of Marketing Companies (JIMCO) – 62%
- Asia Petroleum Limited (APL) – 49%
- Pak Grease Manufacturing Company (Private) Limited – 22%
- Pak-Arab Pipeline Company Limited (PAPCO) – 12%
- New Islamabad International Airport Fuel Farm (NIAP) – 50%
Its wholly owned subsidiaries include:
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Awards and recognition
- Largest Taxpayer Excellence Award by the Prime Minister of Pakistan[31][32][33][34]
- First prize in the Oil & Gas Marketing Companies Sector at the Corporate Excellence Awards by the Management Association of Pakistan[35][36][37]
- Merit Certificate for financial reporting by the South Asian Federation of Accountants (SAFA) in 2022[38][39]
- Best in Health & Wellbeing award at the HR Pinnacle Awards in 2024[40]
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See also
References
External links
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