Pakistan State Oil (PSO), the nation’s energy leader, delivered a stable performance in first half of fiscal year 2024-25 (1HFY25), posting a net profit of PKR 11.2 billion and gross sales of PKR 1.74 trillion.
The company’s Board of Management reviewed the group’s performance for the half-year ended December 31, 2024, in a meeting held on February 13, 2025. The group reported a net profit of PKR 9.1 billion translating into earnings per share of PKR 19.48.
Despite a volatile market landscape, the petroleum industry maintained a steady course during the first half of the fiscal year. PSO effectively managed the resulting industry pressures, providing a seamless fuel supply to meet the country’s energy demands.
The company maintained its market position in 1HFY25, with a 47.1% of the white oil segment driven by sales of 3,610 KMT. Sustaining a strong presence in the diesel market, PSO captured 48.1% share of the diesel market, with sales of 1,660 KMT, while its MoGas portfolio secured a market share of 41.5% with 1,601 KMT in sales. The company solidified its leadership in the jet fuel segment, securing a 99.1% market share with total sales of 326.8 KMT.
Furthermore, PSO achieved its highest-ever LPG sales in FY25, with record monthly growth of 22%, reaching 5.2 KMT in December 2024. Total LPG sales reached 27.56 KMT in 1HFY25, reflecting a 10% increase from 1HFY24.
The company continued to drive sustainable growth and enhance its logistics and supply chain capabilities through strategic infrastructure investments. Major developments included the rehabilitation of 3 lubricant tanks at Keamari Terminal B and Lubricant Manufacturing Plant A facilities, adding 3 KMT of capacity, as well as an ongoing expansion involving 4 additional tanks to increase capacity by 7 KMT. Additionally, PSO expanded storage capacity by 25 KMT for PMG and HSD fuels at its Faqirabad depot with the construction of 2 new storage tanks.
The company focused on delivering exceptional customer experiences by significantly expanding its retail footprint, reaching a milestone of 3,610 outlets across the country, complemented by the modernization of 111 convenience stores.
Building on its commitment to operational excellence, PSO expanded its deployment of Dispensing Unit Controllers (DUCs) to 50 additional retail sites, bringing the total coverage to 1,200 locations and enhancing data management and network monitoring capabilities.
The company further raised the bar in retail excellence with the launch of VIBE, its pioneering concept convenience store in Karachi, redefining the retail experience and setting new standards for convenience retailing.
PSO partnered with Pakistan Railways to introduce refueling services at 8 strategic locations nationwide, enhancing logistics efficiency, railway reliability, and environmental sustainability, and ultimately driving economic growth and improved transportation services for the public.
Making a significant impact on the lives of countless Pakistanis, the company contributed PKR 130 million to various non-profits, addressing needs across healthcare, education, youth development, community empowerment, and environmental sustainability.
The circular debt crisis continues to impact PSO’s financial performance, with receivables totaling PKR 467 billion as of December 31, 2024, including PKR 340 billion owed by SNGPL. The company is working closely with the government to find solutions and resolve this longstanding issue.
Prioritizing customer-centric innovations, PSO continues to deliver value-added services to enhance customer experiences, while also advancing strategic, long-term projects designed to generate substantial shareholder value and sustainable growth.
The management expresses sincere gratitude to all stakeholders including the Board of Management, the Government of Pakistan, Ministry of Energy (Petroleum Division), shareholders and employees for their continued support and trust.