Press Release Archive

  • PSO's 47th Annual General Meeting


    PSO held its 47th Annual General Meeting for the financial year 2022-23 in Karachi today. The meeting was chaired by Chairman, Board of Management, PSO – Mr. Asif Baigmohamed. Managing Director & CEO, PSO - Syed Taha, other board members and senior management were also present..

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  • PSO Ascends to New Heights, Asserting Market Dominance with Record-Breaking Profits


    October 20, 2023: Pakistan State Oil (PSO), the national energy icon, has showcased its unwavering determination and resilience by achieving remarkable milestones in the first quarter of the financial year 2023-2024. In this period, PSO reported an unprecedented quarterly profit after tax of PKR 21.89 billion, resulting in an impressive earnings per share of PKR 46.62. Additionally, PSO achieved its highest ever quarterly gross sales of PKR 976 billion..

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  • PSO’s flight to Excellence: Inauguration of Refuelling Operations at Quetta International Airport


    September 15, 2023: In a landmark achievement, PSO has reached a remarkable milestone by inaugurating its state-of-the-art aircraft refuelling facility at the Quetta International Airport situated in the heart of Balochistan, the capital and largest city of the province..

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  • PSO continues to dominate the energy market; reports profits of PKR 5.7 Bn


    August 23, 2023: PSO, the nation's leading energy company, has achieved remarkable progress and demonstrated resilience in a challenging energy market. During a meeting held at PSO House on August 23, 2023, the company's Board of Management (BoM) reviewed the group’s performance for the financial year ended June 30, 2023..

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  • Independence Day - Flag Hoisting Ceremony


    PSO, the nation's leading energy company, celebrated Pakistan's Independence Day at PSO's head office in Karachi..

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  • Fuelling the skies – PSO helps spur tourism in Pakistan by unveiling High-End Aircraft Re-Fueling Facility at Skardu


    August 11, 2023: Pioneering the way forward in Pakistan's energy sector, Pakistan State Oil (PSO) has yet again made its mark with a significant achievement. The national flag bearer energy company opened the doors of its brand-new aircraft refueling installation at the Skardu international airport in the magnificent region of Gilgit-Baltistan..

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  • PSO Stands with its People by Supporting Those in Need


    Karachi: Living up to its core values of Caring and Giving, Pakistan State Oil (PSO) launched a nationwide ration distribution drive to support the underserved communities during the blessed month of Ramadan..

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  • PSO dominates a challenging energy market


    Pakistan State Oil (PSO) exhibited exceptional resilience and reported a net profit of PKR 10.3 billion (9MFY22: PKR 64.8 billion) with Earnings Per Share of PKR 21.9. The company’s strong operational performance and strategic thrust helped increase its market share as it continued to display unyielding perseverance and adaptability in the face of ever-changing market conditions..

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  • For the first time ever, PSO launches fully synthetic CK-4 graded diesel engine oil in Pakistan


    Staying true to its commitment of driving the energy sector forward, the leading energy company, Pakistan State Oil (PSO) has added yet another product to its extensive portfolio by introducing the latest technology around the world as per API standards – DEO MAX, the country’s first fully synthetic CK-4 graded diesel engine oil. Being the first of its kind in Pakistan, DEO Max offers longer oil drain interval, enhanced engine protection and reduced emissions. The rising concerns of its predecessor’s (CJ-4) inability to withstand the aggressive and harsh operating environment of technically advanced engines brought forward the need for a new, improved and cost-efficient solution. Since its launch globally, CK-4 engine oils already have a proven performance track record confirming its robustness, reliability and economic efficiency. In comparison to its predecessor CJ-4, CK-4 prolongs the oil change interval up to 60%. Revolutionizing the energy landscape in Pakistan, DEO Max is formulated to deliver exceptional performance in modern as well as pre-dated heavy diesel engines. Technology being used in DEO Max has passed strict performance tests to qualify where API CK-4, CJ-4, CI-4 Plus, CI-4 & CH-4 oils are recommended. Built with the world’s best lubricant additive, DEO Max is available country wide at all PSO retail forecourts, Hi street lubricant markets and also throughout B2B segment. Being the national flag bearer, PSO continues to be at the forefront of introducing new and advanced technologies in every sphere of its operations as it pledges to enhance the fueling experience in Pakistan..

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  • PSO Reports First Quarter Results


    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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