Press Releases

  • PSO Reports First Quarter Results

    2022-10-28

    The national energy icon, Pakistan State Oil (PSO) reported a profit after tax of PKR 1.2 billion in Q1 of the financial year 2022-2023 while the group posted a net profit after tax of PKR 2.1 billion for the period despite the turbulent quarter. The Board of Management reviewed the performance of the company together with its subsidiary Pakistan Refinery Limited (PRL) for the first quarter ended September 30, 2022, during the meeting held at the company’s head office in Karachi on October 27, 2022. Geo-political tension continued to cause significant fluctuations in the price of crude oil globally whereas Pakistan experienced historic devastation due to flash floods, affecting one-third of the country and leaving 33 million people homeless. Owing to these uncontrollable factors, the petroleum industry witnessed a sharp decline in consumption of all major products in the quarter as industry volumes decreased by 24.4% in white oil and 16.1% in black oil. Despite the obstruction in intercity movement due to massive flooding in major regions of Sindh, lower Punjab and Baluchistan, PSO continued to fulfill its responsibility, supplying fuel nationwide, maintaining adequate stocks to aid in relief efforts and keep the wheels of the nation’s economy in motion. The company’s market share increased by 1.3% in white oil and 1.6% in black oil, reaching 48.8% and 65.6% respectively. Standing strong with the nation in the time of need once again, PSO contributed approximately PKR 56 million in flood relief efforts and CSR activities while the company’s employees donated two days’ salary for the cause. Further strengthening its robust supply chain and infrastructure, 4000 tons of storages were rehabilitated in the period. Significant headway was also made in innovation, digitization and diversification initiatives with numerous projects in advanced stages of completion. The board expressed concern over mounting trade receivables, noting a significant increase compared to June 30, 2022. The matter is being actively pursued with the concerned authorities for settlement. The management extended its gratitude towards its stakeholders including the Board of Management, Government of Pakistan, Ministry of Energy (Petroleum Division), shareholders and employees for their continued support..

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  • PSO's 46th Annual General Meeting

    2022-10-27

    The national energy icon, Pakistan State Oil (PSO), convened its 46th Annual General Meeting for financial year 2021-22 on October 26, 2022 in Karachi. Shareholders were apprised about record breaking results as the company surpassed its previous years’ historic financial performance, achieving an all-time high gross revenue of PKR 2.7 trillion (FY21: PKR 1.4 trillion) and a record profit after tax of PKR 86.2 billion (FY21: PKR 29.1 billion) i.e. a 196% increase. The net profit translated into an earning per share of PKR 183.66 (FY21: PKR 62.07). Based on the outstanding financial and operational performance of the company, Board of Management declared a final dividend of PKR 10/- per share (100%) for the financial year 2021-22..

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  • The country's leading energy company and national flag bearer, Pakistan State Oil (PSO), celebrated 75 years of Pakistan's Independence at PSO House, Karachi.

    2022-08-14

    The country's leading energy company and national flag bearer, Pakistan State Oil (PSO), celebrated 75 years of Pakistan's Independence at PSO House, Karachi. On this momentous occasion, Managing Director & CEO, Syed Muhammad Taha hoisted the national flag, which was followed by the national anthem and prayers for the country’s prosperity and progress..

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  • Minister of State (Petroleum Division), Ministry of Energy, Mr. Musadik Malik visited PSO's Head Office in Karachi.

    2022-06-30

    Minister of State (Petroleum Division), Ministry of Energy, Mr. Musadik Malik visited PSO's Head Office in Karachi. Managing Director & CEO, Pakistan State Oil (PSO), Syed Taha welcomed the honorable guest along with the company's senior management..

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  • PSO Reports Record Nine Monthly Results

    2022-04-28

    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..

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  • PSO Renews Partnership with TotalEnergies Aviation

    2022-03-30

    Pakistan's largest energy company - Pakistan State Oil (PSO), signs Fuel Supply and Technical Services Agreements with TotalEnergies Aviation (TEA) at their headquarters at La Defense Paris France. The agreements were signed by Chief Supply Chain Officer, PSO - Mr. Abdus Sami and President, TEA - Mr. Joel Navaron. Senior officials from both companies were present during the ceremony..

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  • PSO Continues to Dominate the Energy Market, Reports Profit PKR 32.2 BN in 1HFY22

    2022-02-11

    The country's largest energy company, Pakistan State Oil (PSO) continues to gain momentum and outperform the industry reporting the highest ever half year gross revenue of PKR 1.12 trillion and profit after tax of PKR 32.2 billion (1HY21: PKR 9.5 billion). The net profit translated into a healthy earning per share of PKR 68.56 vs. PKR 20.28 in 1HFY21..

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  • PSO, Pakistan Railways Sign MoU

    2022-01-24

    The country's leading energy company, Pakistan State Oil (PSO) further strengthens its strategic partnership with Pakistan Railways by signing a Memorandum of Understanding (MoU) for the supply of POL products, transportation and other businesses..

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  • PSL Signing Ceremony

    2022-01-12

    Pakistan State Oil (PSO) and Karachi Kings team up for the mega tournament Pakistan Super League (PSL) Season 7 where PSO Carient Motor Oil will be powering the team as the Titanium sponsor. The signing ceremony was held at PSO's head office in Karachi. President Karachi Kings- Mr. Wasim Akram and Captain Karachi Kings - Mr. Babar Azam were present at the ceremony along with CEO & MD PSO - Syed Taha and the company's senior management..

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  • PSO Sets All-time Records as Profits Soar in Q1FY22

    2021-10-28

    Pakistan State Oil continues to assert its dominance in the energy market as it outperforms the industry, demonstrating its resilience and strength despite the lingering impacts of the pandemic. The market leader reported an all-time high net profit after tax of PKR 11.9 billion in the first quarter of fiscal year 2021-22 (Q1FY22), a growth of 133% compared to the same period last year..

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Clarifications

Title Download
Clarification KEY PORTIONS OF THE PAKISTAN STATE OIL (PSO) AND QATARGAS DEAL REMAINED REDACTED PDF
LNG Cargo delayed due to weather conditions PDF
“NO END TO FURNACE OIL LOVE AFFAIR” PDF
PSO REFUTES ALLEGATIONS LEVELLED AGAINST THE COMPANY AND ITS SENIOR MANAGEMENT IN A PROGRAM BY 92 NEWS PDF
PSO Refutes HALF COOKED INAPPROPRIATE ALLEGATIONS raised by Dr. Danish in HIS TV program PDF
Fuel Shortage hits GB PDF
PSO refutes allegations by All Pakistan CNG Association (APCNGA) PDF
Increase in rent of outlets: PSO accused of harassing CNG operators PDF
Transparency in RLNG Pricing Needed to Pass On Real Benefits PDF
PSO's Response to 7th January Letter PDF
TIP Letter - 7th January,2016 PDF
PSO's Response to 8th December Letter PDF
TIP Letter - 8th December, 2015 PDF
PSO's Response to 3rd December Letter PDF
TIP Letter - 3rd December, 2015 PDF

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