March 23, 2017 1:18 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Pak Arab Refinery Limited

Company Overview

Pak Arab Refinery Limited, an integrated energy company, engages in refining, transporting, and marketing petroleum products. The company produces liquefied petroleum gas (LPG), high octane blending components, kerosene, jet fuel, high speed diesel, light speed diesel, furnace oil (FO), and sulphur. The company also transports refined products, such as diesel and kerosene. In addition, it markets petroleum products, including LPG, fuel oil, and sulphur for domestic, industrial, and commercial consumers; and industries and processes related to agriculture and live stocks, such as tobacco curing, rice and grain drying, and poultry rearing. Further, the company markets FO to captive power, ceme...

Korangi Creek Road

Karachi,  75190

Pakistan

Founded in 1974

Phone:

92 21 3509 0100

Fax:

92 21 3509 0625

Key Executives for Pak Arab Refinery Limited

Managing Director and Director
Deputy Managing Director of Finance & Corporate Affairs and Acting Company Secretary
Head of Internal Audit
General Manager of Refinery
Compensation as of Fiscal Year 2016.

Pak Arab Refinery Limited Key Developments

Pakistan To Reportedly Privatize 38 Entities

Pakistan intends to privatize 38 national organizations. According to sources, Prime Minister Nawaz Sharif is determine to sell all organizations to its close aide, kin and relatives on less rate in comparison to the market price. The list includes Oil and Gas Development Co., Ltd. (KASE:OGDC), Mari Petroleum Company Limited, Pak Arab Refinery Limited, Pakistan State Oil Company Limited (KASE:PSO), SME Bank Ltd., Sui Southern Gas Co., Ltd. (KASE:SSGC), Sui Northern Gas Pipelines Ltd. (KASE:SNGP), Pakistan Reinsurance Company Ltd. (KASE:PAKRI), National Insurance Company Limited, State Life Insurance Corporation of Pakistan Limited, 76% stake in National Bank of Pakistan (KASE:NBP), 10% stake in Allied Bank Limited (KASE:ABL), 42% stake in Habib Bank Limited (KASE:HBL), Heavy Electrical Complex (Pvt.) Ltd., National Power Construction Corporation (Pvt) Limited, Islamabad Electric Supply Company Limited, Faisalabad Electric Supply Company Limited, Lahore Electric Supply Company Limited, Multan Electric Power Co., Ltd., Pakistan Steel Mills Corporation (PVT) LTD., Pakistan Engineering Company Limited (KASE:PECO) and Pakistan International Airlines Corporation (KASE:PIAA).

Ministry Wants PARCO off Privatization List

The government is likely to drop a 'jewel' from its privatization list after the Ministry of Petroleum and Natural Resources opposed the official move to sell at least 10% stake in Pak Arab Refinery Company (PARCO). The Privatisation Commission has called a meeting of its board to review the option of removing PARCO from the list of entities that have been selected for capital market transactions, said sources in the Ministry of Finance and Privatization. The Commission convened the meeting after the Ministry of Petroleum opposed the proposal either to list PARCO on the stock exchange or to sell its 10% stake to Abu Dhabi government minority shareholder in the refinery. The petroleum ministry has recommended that Pakistan should continue maintaining its existing 60% shareholding in PARCO. It said that the government should neither offer its 10% shares to Abu Dhabi nor go for divestment through enlisting on the stock exchange. The petroleum ministry is of the view that if Abu Dhabi accepts the offer, it will disturb government's control over a strategic asset of the country. It has asked the commission that the entity be deleted from the list of companies being considered for privatization.

IMF To Delay Islamabad's Privatisation Programme

IMF made public a delay of at least six months in Islamabad's privatisation programme. This schedule would be too close to the conclusion of the fund's 36-month, $6.4 billion programme. Almost all privatisation transactions have been delayed until end-June 2016 or end-September 2016. The divestment of shares in Pak Arab Refinery Limited Pakistan International Airlines Corporation (KASE:PIAA), Pakistan International Airlines Corporation (KASE:PIAA), Mari Petroleum Company Limited (KASE:MARI) and Mari Petroleum Company Limited (KASE:MARI) have been postponed until end-June 2016 instead of December 2015. Similarly, the strategic sales of electricity supply companies of Faisalabad, Islamabad and Lahore, as well as the Northern Power Generation Company Limited have been delayed until end-September 2016 instead of their previous deadlines of December 2015 to June 2016.

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Recent Private Companies Transactions

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No transactions available in the past 12 months.
 

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