Karachi, Hi-Tech Lubricants Limited informed Pakistan Stock Exchange that the Oil and Gas Regulatory Authority (OGRA) has acknowledged the satisfactory completion of the Company’s second Oil Storage Facility situated at Nowshera, KPK to be in compliance with the application standards. The OGRA has based its acknowledgement on its third party Inspection Report which concluded that the Company’s oil storage Facility at Nowshera-KPK meets the mandatory requirements of Regulations/Technical Standards for the Petroleum Industry (Depots for the Storage of Petroleum Products) S.R.O. 624(1)2009 as well as license by Department of Explosives.
Hi-Tec Lubricants is ISO 9001:2008 Certified Company. Hi-Tec Lubricants is a part of the MAS group of companies and has been marketing lubricants in Pakistan for the last 20 years. They have been hitherto focusing marketing efforts mainly in the retail markets and our performance in industrial sector has been satisfactory and their products are available in more than seventy-two stations in Pakistan through their network of distributors.
The lubricants they are marketing in Pakistan are manufactured by the world renowned M/s SK Corporation, South Korea. SK has the single largest Petrochemical Chemical Complex in the world, having the state art upstream and downstream manufacturing facilities. SK facilities and its products have the required ISO approval i.e. ISO 9002 and the coveted Environment Management System ISO 14001.
In the Lubricant Sector, SK enjoys an enviable position as it is the single largest producer for VHVI Base Oil. This base is used for SK producing Lubricants and is also exported to leading multinational lubricant blenders.
The symbol “HTL” is being used by the stock exchanges for the shares of Hi-Tech Lubricant Limited.