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PSO Final Report

PSO Final Report

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Published by Zayn Khan

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Published by: Zayn Khan on Aug 02, 2010
Copyright:Attribution Non-commercial


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PSO is the market leader in Pakistan¶s energy sector. The company has the largest network of retail outletsto serve the automotive sector and is the major fuel supplier to aviation, railways, power projects, armedforces and agriculture sector. PSO also provides Jet Fuel to Refueling Facilities at 9 airports in Pakistanand ship fuel at 3 ports. The company takes pride in continuing the tradition of excellence and is fully committed to meet the energy needs of today and rising challenges of tomorrow.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 market share of 82.3% in the black oil market and 59.4% share in the white oil market, alone speak volumes about its success.
PSO Major Highlights - FY 2009
Sold 7 million tons of furnace oil ± the highest in the last 8 yearsEfficiently managed supply to the power sector despite the liquidity crisisImported approximately 90% of the country¶s POL imports - 3.4 million tons of HSD and 5 million tonsof FOHelped in the revenue collection of more than Rs. 161 billion to the GOP (Sales Tax: 97 billion, taxes:1.4 billion,PDL: 61 billion)Extended support to various charitable organizations in the health & education sector includingcontribution for the rehabilitation of IDPs due to the Swat operation
The creation of Pakistan State Oil (PSO) can be traced back to the year 1974, when on January 1st; thegovernment 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 intoexistence. 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 vestedin SOCL. The end of that year (30th December 1976) saw the merger of the Premier Oil CompanyLimited 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 wasfully implemented in 2004. This program over the years included the revamping of the organizationalarchitecture, rationalization of staff, employee empowerment and transparency in decision makingthrough 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

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