Nov 25

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 […]

by Mrs. Anjum Shahnawaz

Pakistan’s October oil sales highest after May 2018

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 […]

by Faisal Shahnawaz

PSO registers 120% growth in quarterly profits

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 […]

by Mrs. Anjum Shahnawaz

Pakistan oil sales increase by 26% in September

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 […]

by Hamza Shahnawaz

PSO’s prudent planning helps considerable savings

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 […]

by Hamza Shahnawaz

PSO posts highest ever annual net profit of Rs29.1bn

Aug 24

Corporate, Energy

PSO posts highest ever annual net profit of Rs29.1bn

KARACHI: Pakistan State Oil (PSO) has announced a record breaking gross revenue of Rs1.4 trillion and highest ever profit after tax of Rs29.1 billion for the financial year 2020-2021 (FY21) after a loss after tax of Rs6.5 billion in the preceding year. The net profit translated into a healthy earning per share of Rs62.07 vs. […]

by Hamza Shahnawaz

Aug 22

Energy

PSO issues clarification LNG purchase

KARACHI: Pakistan State Oil (PSO) has clarified reports about purchase of Liquefied Natural Gas (LNG) on higher prices. In a statement on Sunday the company clarified that: No cargo from long-term supply contract in September has been dropped or canceled by PSO as reported by certain media outlets. As per the Annual Delivery Plan (ADP) […]

by Faisal Shahnawaz

PSO announces 5-time increase in net profit for nine-month period

Apr 29

Corporate, Energy

PSO announces 5-time increase in net profit for nine-month period

KARACHI: Pakistan State Oil (PSO) has declared five-time increase in net profit for nine-month period ended March 31, 2021. The unprecedented growth may be attributed to reduction in cost of products sold during the period. According to financial results for nine-month period ended March 31, 2021 submitted to Pakistan Stock Exchange (PSX), the company announced […]

by Mrs. Anjum Shahnawaz

PSO declares annual loss of Rs6.46 billion

Sep 1

Corporate, Energy

PSO declares annual loss of Rs6.46 billion

KARACHI: Pakistan State Oil Company Limited (PSO) on Tuesday declared Rs6.46 billion loss for the year ended June 30, 2020, according to financial results of the company submitted to Pakistan Stock Exchange (PSX). The company posted Rs10.56 billion after tax profit for the year ended June 30, 2019. The company recorded sales of Rs1,108 billion […]

by Mrs. Anjum Shahnawaz

Many fuel stations shut down after sudden demand, supply suspension rumors

Feb 20

Energy

Many fuel stations shut down after sudden demand, supply suspension rumors

KARACHI: Several fuel stations were shut down in the city on Wednesday evening due to sudden demand after rumors of fuel supply suspension following mysterious toxic gas leakage. Earlier in the day Pakistan State Oil (PSO) temporarily closed down its storage terminal at Kemari for safety of its staff as toxic gas claimed around 15 […]

by Mrs. Anjum Shahnawaz