Pakistan State Oil Company Limited informed Pakistan Stock Exchange that Mr. Irian Ali, Member, Board of Management has ceased to be the Member, Board of Management of the Company with effect from July 08, 2020 and Mr. Omer Rasul has been appointed as Member, Board of Management in his place from the same date.
The announcement is available at:
Pakistan State Oil Company Limited is a public limited company incorporated in Pakistan in 1976. The foundations of the company are laid using the Companies Ordinance, 1984. The principle activities of the company are procurement, storage and marketing of petroleum and related products. The company is also known for blending various kinds of lubricating oils. The stocks of the company are quoted on the Karachi, Lahore and Islamabad Stock Exchanges of Pakistan. The registered office of the company is located in Karachi.
The products which the company sells include Motor Gasoline, High Speed Diesel, Furnace Oil, Jet Fuel, Kerosene, CNG, LPG, Petrochemicals and Lubricants. The distribution network of the company comprises of 3,689 outlets out of which 3,500 outlets serve the retail sector and 189 outlets serve the bulk customers. In addition to retail customers more than 2,000 industrial units, business houses, power plants and airlines are being fueled by the company. The associated companies of PSO are Asia Petroleum Limited with 49% shareholding and Pak Grease Company Limited with 22% shareholding percentage. The industry association and trade bodies of the company include Management Association of Pakistan and World Economic Forum.
The symbol "PSO" is being used by the stock exchanges for the shares of Pakistan State Oil Company Limited.
© Pakistan Press International, source Asianet-Pakistan