Pakistan State Oil, the largest oil marketing company in the country, is currently engaged in storage, distribution and marketing of various POL products. The company’s current value of Rs. 75 billion, its 82.1% share in the black oil market and 61.2% share in the white oil market, alone speak volumes about its success.
Pakistan State Oil (PSO), is the nation’s largest energy company, and is currently engaged in the marketing and distribution of various POL products including Motor Gasoline (Mogas), High Speed Diesel (HSD), Furnace Oil (FO), Jet Fuel (JP-1), Kerosene, CNG, LPG, Petrochemicals and Lubricants.
In addition to these products, they also import other products based on their demand patterns. A brief overview of each of PSO’s business facets is presented below:
Marketing & Distribution
PSO possesses the largest distribution network in the country comprising of 3,754 outlets out of which 3,565 outlets serve the Retail sector and 189 outlets serve their bulk customers.
Acquisition of Products
The automotive sector is the main consumer of Motor Gasoline (Mogas) and High Speed Diesel (HSD) whereas Furnace Oil (FO) is marked for power plant usage.
PSO possesses the largest storage capacity in the country. The company’s infrastructure stretches from Karachi to Gilgit.
PSO uses three mechanisms for the movement of POL products namely, tank lorries (road), tank wagons (railways) and pipelines.
Lubes Manufacturing & Sales
PSO is steadily progressing in the field of lubricants. They are catering to a number of sectors including automotive, Hi-street and industrial consumers through the provision of various products.
Vision:To excel in delivering value to customers as an innovative and dynamic energy company that gets to the future first.
Mission: They are committed to leadership in energy market through competitive advantage in providing the highest quality petroleum products and services to their customers,
-Professionally trained, high quality, motivated workforce, working as a team in an environment, which recognizes and rewards performance, innovation and creativity, and provides for personal growth and development.
-Lowest cost operations and assured access to long-term and cost effective supply sources.
-Sustained growth in earnings in real terms.
-Highly ethical, safe environment friendly and socially responsible business practices.
-Compliance with regulatory and legal requirements and assure ethical operations in all spheres of business
-Focus on HR capital skill development and increased employee engagement for an effective and motivated entrepreneurial team
-Optimize and ensure efficient supply chain and pursue long term supply arrangements.
-Effective HSE compliance with steps taken to encourage use of fuels that reduce carbon footprint.
-Increase market leadership and strategize measures to improve the bottom line.
-Continue to create upstream synergy and evaluate diversification opportunities for growth.
-Focus on responsible corporate citizenship with active CSR initiatives in health, education, community development and support for special persons.
The creation of Pakistan State Oil (PSO) can be traced back to the year 1974, when on January 1st; the government took over and merged Pakistan National Oil (PNO) and Dawood Petroleum Limited (DPL) as Premiere Oil Company Limited (POCL).
Soon after that, on 3rd June 1974, Petroleum Storage Development Corporation (PSDC) came into existence. PSDC was then renamed as State Oil Company Limited (SOCL) on August 23rd 1976. Following that, the ESSO undertakings were purchased on 15th September 1976 and control was vested in SOCL. The end of that year (30th December 1976) saw the merger of the Premier Oil Company Limited and State Oil Company Limited, giving way to Pakistan state Oil (PSO).
After PSO’s inception, the corporate culture underwent a comprehensive renewal program which was fully implemented in 2004. This program over the years included the revamping of the organizational architecture, rationalization of staff, employee empowerment and transparency in decision making through cross functional teams. This new corporate renewal program has divided the company’s major operations into independent activities supported by legal, financial, informative and other services. Inorder to reinforce and monitor this structural change, related check and balances have been established by incorporating monitoring and control systems.
Human Resource Development became one of the main priorities on the company’s agenda under this corporate reform.
It is due to this effective implementation of corporate reform and consistent application of the best industrial practices and business development strategies, that PSO has been able to maintain its market leadership in a highly competitive business environment.
Where is Pakistan State Oil