PSO Powers Pakistan’s Energy Evolution, Posting Robust Q1 FY26 Gains Amid Changing Market Dynamics

Pakistan State Oil (PSO), the country’s largest energy company, delivered a robust performance in the first quarter of FY26, posting a profit after tax of PKR 9.4 billion and earnings per share of PKR 20. The company’s Board of Management reviewed the group’s performance for the quarter ended September 30, 2025, during its meeting held on October 28, 2025. The group’s consolidated profit after tax reached PKR 10.5 billion, resulting in earnings per share of PKR 22.4.

PSO sustained its market leadership amid evolving industry dynamics, achieving a 3.5% year-on-year increase in white oil sales to 1.6 million metric tons, while maintaining a dominant 42% market share. MoGas and diesel sales stood at 785,000 and 672,000 metric tons, highlighting the company’s dependable supply chain. Strengthening its retail footprint, PSO now operates 3,649 outlets nationwide, while logistics enhancements, including high-security tank lorry seals, have further reinforced operational security and transparency.

PSO’s growth strategy extends to underserved markets, with the launch of its first direct service in Gilgit-Baltistan, promoting LPG adoption to curb deforestation and reduce carbon emissions. Digital transformation continues to drive efficiency, with SAP S/4HANA migration streamlining operations and key infrastructure initiatives, including Faisalabad Terminal Automation and the Ring-Fencing Project, setting new benchmarks in reliability and cost optimization.

The company remains committed to social responsibility, investing over PKR 31 million in healthcare, education, environmental sustainability, disaster relief including flood relief, and community development. Highlights include a free healthcare dispensary and Reverse Osmosis (RO) water filtration plant at Shikarpur terminal. PSO was also recognized on the CIPS Ethics Register, underscoring its dedication to ethical and sustainable practices.

While navigating challenges from the ongoing circular debt crisis, with receivables at PKR 426 billion (including PKR 294 billion owed by SNGPL), PSO is confident that the Government of Pakistan’s Circular Debt Reduction Plan will strengthen liquidity across the sector. Looking ahead, the company remains focused on digital innovation, process optimization, and strategic expansion, ensuring continued value for stakeholders and a pivotal role in Pakistan’s energy landscape.

PSO’s management expressed gratitude to the Board, Government of Pakistan, Ministry of Energy (Petroleum Division), shareholders, and employees for their support and trust.