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Pakistan State Oil Company Limited is a Pakistani petroleum public company involved in procurement, storage, marketing and distribution of petroleum and related products. [3] [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.
The country's five oil refineries process crude oil produced in Pakistan and from other countries to produce refined petroleum products such as High Speed Diesel (HSD), Motor Gasoline (MS), Furnace Oil (FO), Light Diesel Oil (LDO), High-Octane Blending Component , Jet fuel (JP-1&JP-8), Kerosene, Liquefied Petroleum Gas (LPG), and Naphtha. The ...
In response, the Government of Pakistan approached private sector companies operating in the country, including Shell Pakistan and Esso, proposing a joint venture to build a refinery in Karachi. [6] The private companies, seeking to protect their profits from oil imports, agreed to the government's proposal as an alternative to accepting the ...
On 1 January 2012, the Nigerian government headed by president Goodluck Ebele Jonathan, tried to cease the subsidy on petrol and deregulate the oil prices by announcing the new price for petrol as US$0.88/litre from the old subsidised price of US$0.406/litre (LAGOS), which in areas distant from Lagos petrol was priced at US$1.25/litre.
In 2004, Pakistan Petroleum was listed on the Karachi Stock Exchange, following an initial public offering at PKR 55 per share. [4] In 2012, Pakistan Petroleum acquired MND operations in Pakistan for $180 million. [5] Later, it was unearthened that Pakistan Petroleum paid twice the market value and this resulted in the loss of PKR 6.21 billion. [6]
Attock Petroleum started its operations in 1998 and is third largest oil marketing company in Pakistan as of 2018. [5] [2]In 2005, Attock was listed on the Karachi Stock Exchange, following an initial public offering at a strike price of PKR 57.75.
National Refinery Limited (NRL) is a Pakistani oil refinery which is a subsidiary of UK-domiciled Attock Oil Company. [2] It is based in Korangi Creek, Karachi. [3] [4]It is a petroleum refinery and petrochemical complex engaged in the manufacture and sale of asphalts, BTX, fuel products and lubes for domestic consumption and export.
Subsequently, it was listed on the Karachi Stock Exchange with the shareholding pattern of 75 percent owned by Esso and 25 percent by the general public. [4] A urea plant with a production capacity of 173,000 tons was constructed at the cost of US$43 million. The plant was commissioned in Daharki in 1966 and production began in 1968. [3]