Pakistan State Oil Company Limited (PSOCL) operating as PSO, is a Karachi-based, state-owned energy company of Pakistan. Founded in 1976, the company has since established itself as a one of the leading players in the oil and gas industry.[4] As of 2024, it maintains a network of 3,580 retail outlets, nine installations, 19 depots, refueling facilities at 14 airports, and operations at two major seaports of the country. It also has the country’s largest storage capacity of 1.24 million ton. PSO supplies fuel to 3 million customers daily, and holds a market share of 51.6% in Pakistan's downstream oil market.[4][5][6][7]
PSO's history dates back to January 1, 1974, when the Government of Pakistan took control of Pakistan National Oil (PNO) and Dawood Petroleum Limited. These entities merged to form the Premier Oil Company Limited (POCL) under the Federal Control Act 1974.[8]
National Pakistan.Dawood Pakistan.Premier Pakistan.
On June 3, 1974, the government established the Petroleum Storage Development Corporation (PSDC), which later transformed into the State Oil Company Limited (SOCL) on August 23, 1976.[9]
The following year, PSO acquired ESSO undertakings on September 15, 1976, with control vested in State Oil Company Limited (SOCL). Following that, the ESSO undertakings were purchased on 15 September 1976, and control was vested in the State Oil Company Limited (SOCL). This was followed by the merger of POCL and SOCL on December 30, 1976, leading to the formation of Pakistan State Oil Company Limited.[8]
Esso Pakistan.PSO old logo.PSO new logo.
Headquarters and offices
PSO House, the company’s headquarters, is located in Karachi with divisional offices in cities across Pakistan, including Islamabad, Peshawar, Lahore, Multan, Sahiwal, Faisalabad, Bahawalpur, DIK, Jehlum, Gujranwala, Sukkur, Hyderabad, and Quetta.The State-owned Pakistan State Oil Co. has 3,500 petrol pumps. Where as Cnergyico has 982 petrol pumps, Total Parco Pakistan Ltd. has 800 petrol pumps and Shell Pakistan Ltd. has 766 petrol pumps.[10]
In 2023, PSO inaugurated an aircraft refueling facility at Skardu International Airport. This move establishes PSO as the only oil marketing company in Pakistan to extend its services to Gilgit-Baltistan region.[11][12]
Financials
In fiscal year 2023-24, PSO reported a consolidated profit after tax of PKR 18.3 billion. The standalone profit was PKR 15.9 billion with a dividend of PKR 10 per share. PSO's subsidiary, PRL, mirrored this success with a profit after tax of PKR of 4.1 billion and gross revenue of PKR of 403.6 billion.[13][14][15][16]
Expansion
VIBE Convenience Store: In 2024, PSO launched a branded convenience store concept at select fuel stations in Karachi, incorporating retail services alongside fuel sales[17][18][19]
Blue LPG Initiative: In partnership with the Government of Gilgit-Baltistan, PSO initiated a household LPG distribution program in Hunza in 2024. The service was extended to Gilgit city in 2025[20][21][22][23][24]
Pakistan Railway’s Fuel Infrastructure: PSO upgraded fuel storage and supply systems at eight locations used by Pakistan Railways to improve logistical operations [25][26][27][28]
Strategic Investments
PSO holds strategic equity stakes in several energy-related companies, including:
In fiscal year 2024, PSO allocated over PKR 350 million toward CSR activities, including healthcare, education, disaster relief, environmental projects, and community development.[35]
PSO ECO Street: A pilot project involving the construction of a road using approximately 5,000 kg of recycled plastic waste, aimed at promoting environmental sustainability and responsible waste management.[36][37][38][39][40][41][42][43]
PSO Shaheen: A training program launched in 2024 that offers car and motorcycle driving instruction for women, with the objective of enhancing mobility and access to employment opportunities.[44][45][46]
Awards and recognition
Largest Taxpayer Excellence Award by the Prime Minister of Pakistan[47][48][49][50]
First prize in the Oil & Gas Marketing Companies Sector at the Corporate Excellence Awards by the Management Association of Pakistan[51][52][53]
Merit Certificate for financial reporting by the South Asian Federation of Accountants (SAFA) in 2022[54][55]
Best in Health & Wellbeing award at the HR Pinnacle Awards in 2024[56]
↑ Makar, A. B.; McMartin, K. E.; Palese, M.; Tephly, T. R. (June 1975). "Formate assay in body fluids: application in methanol poisoning". Biochemical Medicine. 13 (2): 117–126. doi:10.1016/0006-2944(75)90147-7. ISSN0006-2944. PMID1.
↑ Bose, K. S.; Sarma, R. H. (27 October 1975). "Delineation of the intimate details of the backbone conformation of pyridine nucleotide coenzymes in aqueous solution". Biochemical and Biophysical Research Communications. 66 (4): 1173–1179. doi:10.1016/0006-291x(75)90482-9. ISSN1090-2104. PMID2.
↑ Wiesmann, U. N.; DiDonato, S.; Herschkowitz, N. N. (27 October 1975). "Effect of chloroquine on cultured fibroblasts: release of lysosomal hydrolases and inhibition of their uptake". Biochemical and Biophysical Research Communications. 66 (4): 1338–1343. doi:10.1016/0006-291x(75)90506-9. ISSN1090-2104. PMID4.
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Rs. 3.572 trillion (US$12 billion) [1] (2024)
Rs. 974.44 billion (US$3.4 billion) [2] (2024)
