Pak-Arab Refinery

This page was last edited on 11 November 2017, at 16:22.

Pak-Arab Refinery (PARCO) is a fully integrated energy company of Pakistan. It engages in refining, transporting and marketing petroleum products.[1]

Pak Arab Refinery Ltd.
Public
Industry Oil and Gas
Headquarters Karachi, Pakistan[1]
Key people
Syed Tariq Rizavi, Managing Director
Products Oil, High Speed Diesel, Kerosene Oil, Petroleum distillates
Revenue IncreasePKR 400+ Billion (2014)
Owner Government of Pakistan and Abu Dhabi Emirate
Number of employees
1400[2]
Website www.parco.com.pk

Company profile

PARCO, a Joint Venture between Government of Pakistan and the Emirate of Abu Dhabi was incorporated as a public limited company in 1974.[1] The Government of Pakistan holds 60% of the share holding while 40% of the shares are held by Emirate of Abu Dhabi.[3]

The major business activities include Crude Oil Refining and Transportation, Storage and Marketing of petroleum products.[1] With a refining capacity of 100,000 Barrels Per Day, combined storage capacity of over one million tons, a marketing joint venture with TOTAL (France) and a technical support venture with OMV (Austria); PARCO is the strategic fuel supplier for Pakistan.[3] The organization encompasses Pakistan’s largest refinery and 2000 km of cross country pipeline network, including that of its subsidiary PAPCO. In 2010, the company set up a Diesel Hydro Desulfurization Unit to ensure that Diesel produced by the refinery meets international Euro-II standards. PARCO also commissioned a Biturox® plant in 2012, which is expected to produce high quality road paving bitumen for infrastructure development. Pak-Arab Refinery Limited is a member of Oil Companies Advisory Council of Pakistan.[4]

In September 2012, Pak-Arab Refinery completed its first acquisition by acquiring 100% shareholding of SHV Energy Pakistan, which prior to the acquisition was Pakistan's largest LPG marketing company and PARCO's strategic partner since 2001. On 12 April 2017, the company announced that it will use technologies from Honeywell to upgrade its refinery near Multan, Pakistan to produce cleaner-burning fuels.[5]

Business products

This company has retail outlets throughout Pakistan for its products.[1]

See also

References

External links

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