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PSO Financial report 2013 with ratio analysis
 

PSO Financial report 2013 with ratio analysis

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This is a report of PSO financial 2013 with ratio analysis

This is a report of PSO financial 2013 with ratio analysis

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    PSO Financial report 2013 with ratio analysis PSO Financial report 2013 with ratio analysis Document Transcript

    • Acknowledgement First of all I am very thankful to Almighty Allah for giving me a strength courage tolerance and wisdom to bring this report to completion. My teacher Sir Asif Channa is always there to help me and give me a constant guidance and assistance to make me a fallow right path and give me a right lead and boost up whenever I need. A sincerely thanks to him
    • History The creation of Pakistan State Oil (PSO) can be traced back to the year 1974, when on January 1st; the government took over and merged Pakistan National Oil (PNO) and Dawood Petroleum Limited (DPL) as Premiere Oil Company Limited (POCL). Soon after that, on 3rd June 1974, Petroleum Storage Development Corporation (PSDC) came into existence. PSDC was then renamed as State Oil Company Limited (SOCL) 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 (PSO). After PSO’s inception, the corporate culture underwent a comprehensive renewal program which was fully implemented in 2004. This program over the years included the revamping of the organizational architecture, rationalization of staff, employee empowerment and transparency in decision making through cross functional teams. This new corporate renewal program has divided the company’s major operations into independent activities supported by legal, financial, informative and other services. In order to reinforce and monitor this structural change, related check and balances have been established by incorporating monitoring and control systems. Human Resource Development became one of the main priorities on the company’s agenda under this corporate reform. It is due to this effective implementation of corporate reform and consistent application of the best industrial practices and business development strategies, that PSO has been able to maintain its market leadership in a highly competitive business environment.
    • About PSO For the past 35 years, Pakistan State Oil has been fuelling the needs of the nation. Acknowledged as the leading Public Sector Company of Pakistan, PSO has been driving the wheels of the national economy and is the first public company to pass the 1 Trillion rupee revenue mark. Currently the Company is engaged in the marketing and distribution of various POL products including Motor Gasoline (Moggs), High Speed Diesel (HSD), Furnace Oil (FO), Jet Fuel (JP-1), Kerosene, CNG, LPG, Petrochemicals and Lubricants. PSO has the most wide-spread retail network in the country with over 3,500 retail outlets and is also the major fuel supplier to aviation, railways, power projects, armed forces, marine and agriculture sectors. The Company also possesses the country’s largest storage capacity representing nearly 74% of the nation's total storage capacity. PSO is now on the road to becoming a fully integrated firm encompassing facets of exploration, refining, transportation and shipping. Through this plan, PSO will not only reduce operational costs, it will also be able to reduce dependence on external supply sources and develop self sufficiency in the energy sector. The Company’s future plans also include exploring new product markets, expanding the lubricants product range, further expansion of the company retail network, and reducing product movement costs. Vision, Mission and Values of PSO Vision To excel in delivering value to customers as an innovative and dynamic energy company that gets to the future first. Mission We are committed to leadership in energy market through competitive advantage in providing the highest quality petroleum products and services to our customers, based on Values Excellence We believe that excellence in our core activities emerges from a passion for satisfying our customers' needs in terms of total quality management. Our foremost goal is to retain our corporate leadership. Cohesiveness We endeavor to achieve higher collective and individual goals through team. This is inculcated in the organization through effective communication. Respect We are an Equal Opportunity Employer attracting and recruiting the finest people from around the country. We value contribution of individuals and teams. Individual contributions are recognized through our reward and recognition program. Integrity We uphold our values and Business Ethics principles in every action and decision. Professional and personal honesty, dedication and commitment are the landmarks of our success. Open and transparent business practices are based on ethical values and respect for employees, communities and the environment. Innovation We are committed to continuous improvement, both in New Product and Processes as well as those existing already. We encourage Creative Ideas from all stakeholders. Corporate Responsibility We promote Health, Safety and Environment culture both internally and externally. We emphasize on Community Development and
    • aspire to make society a better place to live in.