Tag: PSO

Karachi, April 28, 2022 (PPI-OT): Pakistan’ s premier energy marketing company, Pakistan State Oil Co. Ltd. (PSO) continues to dominate the energy market, reporting highest ever nine-month profit after tax of PKR 64.8 billion (9MFY21: PKR 18.2 billion), demonstrating the company’s agility and strength across its diverse portfolio. PSO outperformed the industry in all petroleum products, leading to an astounding increase in its market share by 3.4% compared to June 30, 2021. PSO’s Board of Management reviewed the performance of the company together with its subsidiary Pakistan Refinery Limited (PRL) during the meeting held at PSO’s head office in Karachi on April 28, 2022. PRL reported a profit after tax of PKR 5.4 billion for the period (9MFY21: profit after tax of ...

Karachi, January 13, 2021 (PPI-OT): Pakistan State Oil (PSO) has signed a partnership agreement with the leading food delivery app Foodpanda. Through this arrangement, PSO will provide an advanced fuel management solution to Foodpanda riders with DigiCash fuel cards. Through this unique solution powered by DigiCash, Foodpanda riders around the country will be able to monitor their fueling expenses, get discounts on PSO fuels and lubricants, redeem deals on 500+ brands nationwide along with the option of having subsidized accidental insurance. Commenting on the partnership, General Manager Cards and Non-Fuel Retail – PSO, Syed Azfar Yazdani, said, “PSO is on a mission to facilitate mobility during the pandemic while keeping the safety and convenience of our customers and workers at th...

Karachi, January 01, 2021 (PPI-OT): PSO continues to lead the fuel revolution in Pakistan by becoming the first Oil Marketing Company (OMC) to upgrade Pakistan’s diesel fuel standard from Euro 2 to Euro 5. The Company has recently launched its Euro 5 standard high speed diesel under the brand name “PSO Hi-Cetane Diesel Euro 5″. The Government of Pakistan (GOP) mandated the import of Euro 5 standard compliant high speed diesel from January 2021. As a proactive and forward-thinking company, PSO imported the first shipment of Euro 5 standard diesel on December 23, 2020 making PSO Hi-Cetane Diesel Euro 5 available at PSO retail outlets in Karachi well ahead of the timeline specified by the GOP. PSO Hi-Cetane Diesel Euro 5 was formally launched by CEO and MD, PSO, Syed Muhamma...

Karachi, October 27, 2020 (PPI-OT):Pakistan State Oil (PSO), the leading oil marketing company of Pakistan, convened its Board of Management (BoM) meeting on October 27, 2020 to review the Company’s performance together with its subsidiary Pakistan Refinery Limited (collectively the ‘Group’) for the quarter ended September 30, 2020 (Q1FY21). COVID-19 continues to impact people around the world. Despite the serious challenges faced by the economic and business world amid the outbreak, PSO has remained resilient in the rapidly changing environment, delivering solid organic growth and improved margins in the first quarter. The Board has confirmed PSO’s profitability and performance. The Company witnessed a volumetric growth of 11.8% in motor gasoline, 17.1% in high spe...

Karachi, October 27, 2020 (PPI-OT):Pakistan State Oil (PSO), the leading oil marketing company of Pakistan, convened its Board of Management (BoM) meeting on October 27, 2020 to review the Company’s performance together with its subsidiary Pakistan Refinery Limited (collectively the ‘Group’) for the quarter ended September 30, 2020 (Q1FY21). COVID-19 continues to impact people around the world. Despite the serious challenges faced by the economic and business world amid the outbreak, PSO has remained resilient in the rapidly changing environment, delivering solid organic growth and improved margins in the first quarter. The Board has confirmed PSO’s profitability and performance. The Company witnessed a volumetric growth of 11.8% in motor gasoline, 17.1% in high spe...

Karachi, October 23, 2020 (PPI-OT):Pakistan State Oil (PSO), the nation’s leading Oil Marketing Company (OMC) convened its 44th annual general meeting on October 21, 2020 in Karachi. To ensure the health and safety of shareholders and employees in view of the coronavirus pandemic, the Company conducted the shareholders’ meeting virtually. Mr Zafar I. Usmani, Chairman, Board of Management, PSO chaired the meeting with Chief Executive Officer and Managing Director PSO, Syed Muhammad Taha. Senior Company officials included Deputy Managing Director – Operations, Syed Jehangir Ali Shah, Senior General Manager – Marketing, Mr Shehryar Omar, Chief Financial Officer, Mr Imtiaz Jaleel and Company Secretary, Mr Rashid Umer Siddiqui. FY20 was shaped by the massive global macroecon...