Appointment of Board Member of Pakistan State Oil Company Limited


Karachi, Pakistan State Oil Company Limited informed Pakistan Stock Exchange that Mr. Asim Iqbal has been appointed as Member of Board of Management of the Company with effect from September 20, 2021 in place of Mr. Ali Raza Bhutta.

Pakistan State Oil Company Limited is a public company incorporated in Pakistan in 1976. The principal activities of the Company are procurement, storage and marketing of petroleum and related products. It also blends and markets various kinds of lubricating oils.

The creation of Pakistan State Oil can be traced back to the year 1974, when on January 1st; the government took over and merged Pakistan National Oil and Dawood Petroleum Limited as Premiere Oil Company Limited.

On 3rd June 1974, Petroleum Storage Development Corporation came into existence. PSDC was then renamed as State Oil Company Limited on August 23rd 1976. Following that, the ESSO undertakings were purchased on 15th September 1976 and control was vested in SOCL. The end of that year (30th December 1976) saw the merger of the Premier Oil Company Limited and State Oil Company Limited, giving way to Pakistan state Oil.

The total numbers of shares are 469,473,300. The Earnings per share is (13.77) in 2020 which was 22.55 in 2019. The Profit After Taxation in 2020 is (6,465,552,000) which was 10,586,553,000 in 2019.