Investment project oil and gas sector company (pso)
GROUP MEMBERS MR. SAHAROZ KHAN MR. ALIRAZAPROJECT ON: OIL AND GAS SECTOR COMPANYPRESENTED TO : SIR YASIR GONDAL
Pakistan’s economy is growing at a very steady rate and this growth is demanding higher energy consumption and thus putting a huge pressure over countries limited energy recourses. Energy sector in Pakistan comprises petroleum, gas, power and coal. Due to the limited reserves of oil and gas with in the country, Pakistan has to import large quantity of oil and oil related products to satisfy the growing domestic oil demand. There are almost four major national oil companies currently involved in the sector, namely Oil and Gas development corporation limited (OGDCL), Pakistan petroleum limited (PPL), Pakistan state oil company limited (PSO) and Pakistan oilfields limited (POL)mained successful.]
Petroleum exploration in Pakistan began more than a century ago.The first well was drilled in 1866 at oilKundal in the Mianwali District of Punjab Province.Right after seven year of World’s 1st well Drilled in1859 in Titusville,Pennsylvania by Edwin Drake Pakistans economy is heavily dependent on the Oil & Gas sector with about 79% of the primary energy requirement
total of 396 shallow wells were drilled in the field from 1915 to 1954 Pakistan Petroleum Ltd discovered a giant gas field in 1952 at Sui And a pipeline toKarachi was completed in 1953.
Future of Oil & gas sectorOil and gas are the countrys top energy sources and will hold fast totheir preeminent positions for many years to come. Together theycurrently provide 65% of the countrys energy. And while petroleum rulesthe world energy scene, natural gas dominates U.S. manufacturing,which accounts for three-fifths of the energy consumed in the entireindustrial sector, says the Energy Information Administration (EIA). Currently, the country consumes over 20 million barrels of oil per day, a figure that is expected to increase to a range of 27 to 32 million bpd by 2025, says the EIA.Imported oil, which currently represents 58% of the countrys totalpetroleum demand, will account for 65-70% of demand by 2025, saysthe EIAs Annual Energy Outlook 2003. Exactly where within this rangethe 2025 imported oil percentage will fall will depend on the future priceper barrel. And the projected range in prices for oil in 2025 is from $19 to$33 per barrel (real 2001 dollars).
INTRODUCTION:Pakistan State Oil (PSO) is the oilmarket leader in Pakistan.Its well established infrastructure,built at par with international standards,represents 82% of country’s storageThe company is the only public sector entity in Pakistan that has beencompeting effectively with three foreign multinationals,Shell, Caltex and Total.Products: Oil, Natural gas,PetrochemicalsRevenue: U.S. $9.5 billion (2011)NET INCOME: U.S. $338 million (2011)
PSO came into being Mid of 1970sJanuary 1, 1974The federal government took over the management of PNO (Pakistan National Oil) andDPL (Dawood Petroleum Limited), renamed into POCL (Premier Oil Company Limited)June 6, 1974The government incorporates “Petroleum Storage DevelopmentCorporation’PSDCAugust 23, 1976PSCDC renamed to State Oil Company Limited (SOCL)September 15, 1976The Governement purchases ESSO undertakings, vests their control in SOCLDecember 30, 1976The Government merges PNO and POCL into SOCL (State Oil Company Limited)and renames it Pakistan State Oil Company Limited (PSO)1999The new vision program is launched with the new logo of PSO.
PSO recognized at MAP Corporate Excellence AwardsPakistan State Oil (PSO), the largest energy company in the country hasbeen recognized for its excellent performance at the 27th CorporateExcellence Awards which were organized by theManagement Association Pakistan.PSO was awarded MAP Corporate Excellence Certificate in theOil and Gas sector.The MAP Corporate Excellence Awards were instituted in 1982to recognise companies demonstrating outstanding performance Pakistan State Oil has launched DEO 6000 Best Corporate Reports 2010 14.2 BILLION RECORDEDSALES PSO registers after tax profits of Rs 2.5 billion in 1QFY12
To excel in delivering value to customers as aninnovative and dynamic energy company thatgets to the future first. :We are committed to leadership in energy market throughcompetitive advantage in providing the highest qualitypetroleum products and services Professionally trained, high quality,motivated workforce, working as a team in an environment, whichrecognizes and rewards performance, innovation and creativity, andprovides for personal growth and development Lowest cost operationsand assured access to long-term and cost effective supply sourcesSustained growth in earnings in real terms Highly ethical, safeenvironment friendly and socially responsiblebusiness practice
Our foremost goal is to retain our corporate leadership. We are committed to continuous improvement, both in New Productand Processes as well as those existing already. We encourageCreative Ideas from all.In 34 AGM MD shared his plans and vision to chart a progressive path forPSO which included storage enhancement, expansion of retail network anddiversification projects like acquisition of refinery and initiating a powerproject.he also emphasized his plans for technology advancement across theboard. Initiatives to promote and relaunch lubricants in the upcomingquarter and explore potential opportunities for LPG storage were alsoshared at the occasion which were well-received by the shareholders. the company would be implementing aggressive marketing efforts. Wealso firmly believe that the future growth lies in innovation, highest level ofcustomer service and diversification into new business areas.� He furtheremphasized the need for adopting transparency in all business affairs toensure that ethical standards are met.