Introduction of Pakistan State Oil

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INTRODUCTION

Pakistan State Oil (PSO) is the oil market leader in Pakistan enjoying over 78.2% share of Black Oil market and 54.3% share of White Oil market. It is engaged in import, storage, distribution and marketing of various POL products, including Mogas, Diesel, Fuel Oil, Jet Fuel, Kerosene, LPG, CNG and petro-chemicals. This blue chip company, the winner of "Karachi Stock Exchange Top Companies Award" and a member of World Economic Forum, has been a popular topic of case studies in Pakistan and abroad based on its radical corporate turnaround over the last few years.
PSO is the market chief in Pakistan’s energy sector. The company has the largest network of retail outlets to serve the automotive sector and is the major fuel
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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

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