Observer Report Karachi
During the first half of fiscal year 2020-21 Pakistan State Oil (PSO) earned a net profit after tax of PKR 9.5 billion, an increase of 48 % compared to the same period last year despite the challenges posed by the pandemic.
PSO’s Board of Management (BoM) reviewed the performance of the company together with its subsidiary Pakistan Refinery Limited (PRL) for the first six months of the financial year 2020-21 (1HFY21) during the meeting held at PSO House, Karachi on February 17, 2021.
During the period under review, PSO further consolidated its position as the market leader and outperformed the industry. The company registered a staggering volumetric growth of 13.3% in the liquid fuels with market share of 46.4%. Mogas sales witnessed a volumetric growth of 14.2%, with market share soaring by 2% which stood at 41.1%. Similarly Hi-Cetane Diesel also recorded an astounding volumetric growth of 19.5% with market share of 47.6%, a market share increase of 2.7%. White Oil volumes grew by 10.1% with a market share of 45.1%. While, Black Oil volumes also grew by of 27.8%.
Leading the sustainable energy revolution in the country, PSO became the first OMC to upgrade Pakistan’s fuel standard from Euro 2 to Euro 5 and launched Hi-Octane 97, Mogas and Hi-Cetane Diesel accordingly.
