PSO records Rs9.5b profit in first half of fiscal year 2020-21

KARACHI: The Pakistan State Oil (PSO) has recorded a profit of Rs 9.5 billion during the first half of the fiscal year 2020-21, an increase of 48 % compared to the same period last year despite the challenges posed by the pandemic.

PSO further consolidated its position as the market leader and outperformed the industry. The company registered a staggering volumetric growth of 13.3% in liquid fuels with a market share of 46.4%. Mogas sales witnessed a volumetric growth of 14.2%, with a market share of 41.1%.

Similarly, Hi-Cetane Diesel also recorded an astounding volumetric growth of 19.5% with a market share of 47.6%. White Oil volumes grew by 10.1% with a market share of 45.1%. While, Black Oil volumes also grew by of 27.8%.

Leading the sustainable energy revolution in the country, PSO became the first OMC to upgrade Pakistan’s fuel standard from Euro 2 to Euro 5 and launched Hi-Octane 97, Mogas and Hi-Cetane Diesel accordingly.