Pakistan state Oil

History

The creation of Pakistan State Oil (PSO) can be traced back to the year 1974, when on January 1;
the government took over and merged National Oil (PNO) and Dawood Petroleum Limited
(DPL) as Premiere Oil Company Limited (POCL).

Soon after that, on 3 June 1974, Petroleum Storage Development Corporation (PSDC) came into
existence. PSDC was then renamed as State Oil Company Limited (SOCL) on August 23, 1976.
Following that, the ESSO undertakings were purchased on 15 September 1976 and control was
vested in SOCL. The end of that year (30 December 1976) saw the merger of the Premier Oil
Company Limited and State Oil Company Limited, giving way to Pakistan state Oil (PSO).

The creation of Pakistan State Oil (PSO) can be traced back to the year 1974, when on
January 1; the government took over and merged National Oil (PNO) and Dawood
Petroleum Limited (DPL) as Premiere Oil Company Limited (POCL).

Soon after that, on 3 June 1974, Petroleum Storage Development Corporation (PSDC)
came into existence. PSDC was then renamed as State Oil Company Limited (SOCL)
on August 23, 1976. Following that, the ESSO undertakings were purchased on 15
September 1976 and control was vested in SOCL. The end of that year (30 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. In order to reinforce and monitor this structural change, related
check and balances have been established by incorporating monitoring and control systems. Due
to this effective implementation of corporate reform and consistent application of the best
industrial practices and business development strategies, PSO has been able to maintain its
market leadership in a highly competitive business environment.

Introduction;

PSO) is a Karachi-based Pakistani state-owned multinational petroleum corporation involved in

marketing and distribution of petroleum products.[4] It has a network of 3,689 petroleum filling
stations, out of which 3500 outlets serve the public retail sector and 189 outlets serve wholesale
bulk customers. Pakistan State Oil is Pakistan's largest fuel marketing company.

It was founded on December 30, 1976, [1] after Pakistan's government took over the management
of Pakistan National Oil (PNO) and Dawood Petroleum Limited and renamed into POCL
(Premier Oil Company Limited) for marketing of Petroleum Products. PSO is the first public
company in Pakistan to pass the PKR 1 trillion revenue mark.

Its primary listing is on the Karachi Stock Exchange and it is a constituent of the KSE-30 Index.
PSO has been named among the Forbes Global 2000 companies continuously over the years. Its
revenues in 2014 stood at PKR 1,410 billion ($ 14 billion) and after-tax profit stood at PKR 21.8
billion ($210 million). The company's market capitalization is greater than Pakistani Rupees 100
billion (US$1.1 Billion as of May 2014).[1]

Vision
Safety is our priority and it is our belief that all accidents are preventable. Our first aim is
excellence in HSE performance in all PSO businesses.”

 A cleaner, greener, healthier Pakistan.

 Enabling a safer environment for the PSO family and those whom we serve.
 Making a difference today for a secure tomorrow.

Mission

 Pakistan State Oil Co. Ltd. is committed to manage health, safety and environmental (HSE)
matters as an integral part of the business which includes employees, customers, business
partners, contractors and the community at large. To assure the HSE integrity of our
processes and facilities we will continue to strive for improvement by implementing the
HSE Management System and further, by adhering to the following principles:

 Compliance:
 We ensure that our stakeholders will comply with all applicable laws, regulations, and
standards and implement programs and procedures. In order to progress from Good to
Great, everyone working for the company is responsible to implement the HSE program,
policy and procedures.

 Communication:
 We will communicate our commitment to our employees, contractors and customers and
seek their full cooperation in meeting our HSE goal through various events and programs.

 Continuous Improvement:
 We will seek opportunities to continuously improve the effectiveness of our HSE
Management System by not only planning, performing, measuring and improving it but
also by identifying, assessing, managing hazards, impacts and risks from our activities and
services.
Board of Director Pso

Mr. Zafar Ul Islam Usmani

Chairman

Mr. Zafar Ul Islam Usmani has held multiple C-level positions with multinational and national
companies. He has worked as Chief Operating Officer in Cable & Wireless JV, Paktel; Chief
Executive Officer in ExxonMobil JV in Pakistan; Senior Vice President Commercial in Pakistan
International Airlines Corporation; Senior Executive Vice President in Pakistan
Telecommunication Company Limited and Chief Operating Officer in CM Pak Ltd (Zong).

Mr. Muhammad Anwer

Member

Mr. Muhammad Anwer is a senior civil servant, currently posted as Senior Joint Secretary in the
Ministry of Finance and dealing with financial matters of water, power, petroleum and gas
sectors. Having Master’s degree in Finance / Management (with distinction), Executive
Education Program in Public Financial Management from John. F. Kennedy School, Harvard
University, national / international trainings,

Syed Jehangir Ali Shah

Member

Mr. Jehangir Ali Shah is a seasoned veteran of the oil industry. He has been appointed as Acting
Managing Director of PSO on September 06, 2018. This position was also held by him
previously in 2011. He joined PSO in 1984 and had worked in various management positions.
His forte however, remained sales and marketing as he has led almost all marketing departments
in PSO. Prior to his current elevation to the position of Acting Managing Director,

Mr. Sajid Mehmood Qazi

Member

Mr. Sajid Mehmood Qazi, Joint Secretary, Ministry of Energy, Petroleum Division joined Office
Management Group of the civil service of Pakistan in 1995. He was exposed to the working of
Ministries of Economic Affairs, Commerce & Textile and Narcotics Control. As Additional
Registrar Supreme Court of Pakistan,

Ms. Tara Uzra Dawood

Member

Ms. Dawood is Chief Executive Officer of 786 Investments Ltd, an Asset Management
Company initially launched on the instigation of Asian Development Bank. She is presently on
the Board of Mutual Fund Association of Pakistan, and she has also served as an Independent
Director on the Board of LESCO.

Management of PSO

Syed Jehangir Ali Shah

MD & CEO

Mr. Jehangir Ali Shah is a seasoned veteran of the oil industry. He has been appointed as Acting
Managing Director of PSO on September 06, 2018. This position was also held by him
previously in 2011. He joined PSO in 1984 and had worked in various management positions.
His forte however, remained sales and marketing as he has led almost all marketing departments
in PSO. Prior to his current elevation to the position;

Mr.YacoobSuttar
DMD & CFO

Mr. Suttar is a Fellow Chartered Accountant by profession and has over 29 years of professional
work experience. He is also a Fellow Cost and Management Accountant. He remained associated
with Engro Chemical Pakistan Ltd., in various roles for 17 years before joining PSO in 2005 as
its CFO. He joined Asia Petroleum in 2013 where he is serving as the Managing Director and
CEO. He is also currently serving as the President of The Institute of Chartered Accountants of
Pakistan (ICAP)
 Core Values

 Excellence. We believe that excellence in our core activities emerges from a passion
for satisfying our customers' needs in terms of total quality management. ...
 Cohesiveness. We endeavor to achieve higher collective and individual goals through
team. ...
 Respect. ...
 Integrity. ...
 Innovation. ...
 Corporate Responsibility.

Core Product

Product Prices
Pol Archives - High Speed Diesel (HSD) - Lubricants - ...

Lubricants
To cater to all kinds of lubricants customers, including automotive ...

Automotive Lubricants
Home; Product & Services; Lubricants; Automotive

Consumer Business
The function of Consumer Business (CB) Department is to ...

Power Projects
Industrial Customers · Power Projects · Aviation and Marine ...

Retail Fuels
Retail Fuels is one of the core business segments of PSO, with .