Apr 27
Corporate, Energy
PSO registers 58% decline in earnings for 3QFY23 amid higher finance costs
Pakistan State Oil (PSO), the largest oil marketing company in Pakistan, has reported a significant decline in earnings for its 3QFY23.
Aug 26
Corporate, Energy
Pakistan State Oil’s profit surges by 224% to Rs95.72 bn
Pakistan State Oil Company Limited (PSO) on Friday declared massive growth in net annual profit of 224 per cent to Rs95.72 billion for the year ended June 30, 2022. The state oil company announced profit after tax at Rs95.72 billion for the year ended June 30, 2022 as compared with Rs29.55 billion in the preceding […]
Jul 31
Energy, Finance
Pakistan State Oil gets Rs30 billion to avoid default
ISLAMABAD: An amount of Rs30 billion has been approved for Pakistan State Oil (PSO) to avoid payment default. The approval has been given at a meeting of Economic Coordination Committee (ECC), which was held in Islamabad on Sunday with Minister for Finance and Revenue Miftah Ismail in the chair. READ MORE: PSO posts massive growth […]
Feb 11
Corporate, Energy
PSO posts massive growth of 245% in six months
KARACHI: Pakistan State Oil Company Limited (PSX: PSO) has declared massive growth of 245 per cent in net profit for the six months ended December 31, 2021. According to financial results submitted to the Pakistan Stock Exchange (PSX) on Friday, the company declared Rs31.92 as profit after tax for the six month period ended December […]
Nov 26
Energy, National
Petroleum dealers call off strike on successful talks
ISLAMABAD: The talks between the government and Pakistan Petroleum Dealers Association ended in a success which has led to the strike being called off. “The talks between the government and petroleum dealers association have led to the strike being called off,” Hammad Azhar, Minister of Energy said in a Tweet on Thursday night. Earlier, the […]
Nov 25
Energy, National, Top stories
OMCs shun petroleum dealers strike, to open outlets
ISLAMABAD: Leading Oil Marketing Companies (OMCs) have announced to open their outlets across the country on November 25, 2021, in order to ensure facilitating consumers. A shutdown strike has been called by the Petroleum Dealers Association on November 25, 2021. Gas & Oil Pakistan Company Limited (GO), with the largest retail outlet network of 1,000 […]
Nov 3
Energy
Pakistan’s October oil sales highest after May 2018
KARACHI: Pakistan’s domestic oil sales in October 2021 recorded 1.99 million tons, which is the highest since May 2018, analysts at Topline Research said on Tuesday. Pakistan’s oil sales have increased by 17 per cent YoY to 1.99 million tons in October 2021 (and also up 3 per cent MoM), which is the highest monthly […]
Oct 28
Corporate, Energy, Top stories
PSO registers 120% growth in quarterly profits
KARACHI: Pakistan State Oil (PSO) on Thursday announced a massive jump in its quarterly net profit by over 120 per cent for the period ended September 30, 2021. According to consolidated results, the profit of the company surged to Rs11.53 billion for the quarter ended September 30, 2021, as compared with Rs5.22 billion in the […]
Oct 1
Energy
Pakistan oil sales increase by 26% in September
KARACHI: Pakistan oil sales have increased by 26 percent Year on Year (YoY) to 1.93 million tons in September 2021 as compared with 1.52 tons in the same month of the last year, a report suggested on Friday. The same is likely to remain largely similar on a Month on Month (MoM) basis due to […]
Sep 15
Energy
PSO’s prudent planning helps considerable savings
KARACHI: Prudent planning and strategic thinking. Pakistan State Oil (PSO) has enabled considerable savings and created value for end users by taking the following steps: As of today, PSO has scrapped the spot tender for October 22-23, 2021, and replaced it with cargo under the long-term contract from Qatar Gas using contractual provisions and prudent […]