PSO to im­port oil through PNSC tankers

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Pak­istan State Oil has signed a MoU with the Pak­istan Na­tional Ship­ping Cor­po­ra­tion for the use of PNSC ves­sels for trans­porta­tion of fur­nace oil to Pak­istan. Naeem Yahya Mir, CEO and Man­ag­ing Di­rec­tor, PSO and Saleem Ahmed Meenai, Chair­man, PNSC, par­tic­i­pated the sign­ing cer­e­mony at the Sindh Gov­er­nor’s House. Prime Min­is­ter Raja Pervez Ashraf, Sindh Gov­er­nor Ishrat- ulIbad, Chief Min­is­ter Qaim Ali Shah, Dr Asim Hus­sain, ad­viser to the prime min­is­ter on pe­tro­leum and nat­u­ral re­sources, Qa­mar Zaman Kaira, fed­eral min­is­ter for in­for­ma­tion and broad­cast­ing and Baber Ghauri, fed­eral min­is­ter for ports and ship­ping, were also present on the oc­ca­sion. By sign­ing the MoU, PSO has moved a step closer to be­com­ing a fully in­te­grated oil com­pany as es­poused by the com­pany lead­er­ship. By uti­liz­ing Pak­istani tankers to bring in fuel oil, PSO will be able to strengthen its sup­ply chain and re­duce de­pen­dence on for­eign trans­porta­tion net­works. Ad­di­tion­ally mak­ing pay­ments in PKR will re­sult in sub­stan­tial sav­ings in costs, which will trans­late into cost ben­e­fits for the end- con­sumer.

Through such link­ages, PSO is work­ing to cat­a­pult it­self into the league of in­ter­na­tional oil giants.

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