Pakistan State Oil

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 one of the leading players in the oil and gas industry. 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]

History

PSO's history dates back to 1 January 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]

On 3 June 1974, the government established the Petroleum Storage Development Corporation (PSDC), which later transformed into the State Oil Company Limited (SOCL) on 23 August 1976.[9]

The following year, PSO acquired ESSO undertakings on 15 September 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 30 December 1976, leading to the formation of Pakistan State Oil Company Limited.[8]

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:

Its wholly owned subsidiaries include:

• Pakistan Refinery Limited (PRL) – 63.6%[29]
• Joint Installation of Marketing Companies (JIMCO) – 62%
• Asia Petroleum Limited (APL) – 49%
• Pak Grease Manufacturing Company (Private) Limited – 22%
• Pak-Arab Pipeline Company Limited (PAPCO) – 12%
• New Islamabad International Airport Fuel Farm (NIAP) – 50%

• Cerisma (Private) Limited [30]
• PSO Renewable Energy (Private) Limited[31]
• PSO Venture Capital (Private) Limited [32][33]

Corporate social responsibility

In fiscal year 2024, PSO allocated over PKR 350 million toward CSR activities, including healthcare, education, disaster relief, environmental projects, and community development.[34]

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.[35][36][37][38][39][40][41][42]

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.[43][44][45]

Marketing and branding

In 2025, Pakistan State Oil (PSO) supported Pakistani motorsport athlete Dina Rohinton Patel through its PSO Careint Motor Oil platform, featuring her competitive activities in national motorsport and drifting events. PSO’s official communications highlighted Patel’s journey and performance as she achieved recognition as Pakistan’s first female drifter, positioning the collaboration as part of the company’s engagement with high-performance automotive culture and the promotion of emerging motorsport talent in Pakistan. [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]

See also

• Petroleum industry in Pakistan
• List of largest companies in Pakistan

External links