Pakistan State Oil (PSO), the country’s leading oil marketing company, has posted Rs 5.083 billion as profit after tax in the half year period ended December 31, 2009 as compared to after tax loss of Rs 10.049 billion recorded in the corresponding period in 2008.

Highlights

• Overall, the market share for PSO stood at 71.4 percent during the first half of FY10.
• Despite financial challenges and economic slow down, PSO maintained its leadership in the White and Black Oil market segments with market shares of 56.3 percent and 88.5 percent respectively.
• The reporting period witnessed the transference of 12 percent of the government of Pakistan’s shareholding to the employees of PSO.
• During the first half of FY10, the company signed a Fuel Supply Agreement with Northern Power Generation Company Limited (NPGCL), a subsidiary company of the Pakistan Electric Power Company (Private) Limited (PEPCO), for exclusively fulfilling Furnace Oil and HSD requirements of all the power stations of NPGCL.