Pakistan State Oil

Pakistani oil company, held with 54% by the Pakistani State, having its seat with Karachi.

History

It was founded in 1976, after having amalgamated then famous the companies Pakistan National Oil, First Oil Company Limited, then State Oil Company Limited.

The Pakistani government engaged PSO towards the way of complete privatization, by putting on sale 51% of the shares that it holds for 600 million dollars, by preserving the remainder. In string Malaysian the Petronas, the Swiss broker are Vitol. The British BP, who holds already an activity of exploration-production in the province of the Sindh, regarded as favorite with the recovery, threw the sponge in July 2007.

Activities

It carried out a turnover of 352,5 billion Pakistani rupees in 2006, either 4,38 billion euros, in rise of 38,9%. 7,5 billion Pakistani rupees of the benefit in 2006, highest since 1997, or 93,65 million euros, in rise of 33% compared to 2005.

It is with dimensions with the purse of Karachi, belonging to its index of reference, KSE 30, and positions in 10th position by its market cap, after Hub Power and in front of Engro Chemical.

The company is leader in the supply of oil products in Pakistan, that it is for industry or transport, by providing 65% of the needs for the country. It has 1.200 service station through Pakistan. Its activity is exclusively concentrated on its domestic market, with for competitor principal Royal Dutch Shell, ChevronTexaco (via its Caltex subsidiary company), Attock Petroleum Limited, and Total (via its local subsidiary company Parrco). In addition, PSO distributes oils Castrol (group BP) to Pakistan.

External bonds

Official site
Document of JP Morgan, banks elected for the privatization of PSO

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