Chinese team shows interest in refinery

Posted on 10.18.06 by StockPK Team @ 11:35 am    

A trade delegation from China visited PSO House on Tuesday and during discussions with the management of the company expressed interest in setting up a refinery in Pakistan.

The team headed by Yang Hansheng was accompanied by Director Refining, Ministry of Petroleum, Muhammad Azam and officials of the Chinese Consulate, said a PSO press release issued here.

Managing Director and Chief Executive Officer PSO Jalees Ahmed Siddiqi briefed the visiting delegation on working of PSO and its future plans. He said the company is using technology to its advantage by seeking to reinforce technology-driven initiatives and also working for diversification of fuel and non-fuel business.

He highlighted the performance of the company in recent years and said, in the first quarter of this financial year, PSO has further improved its market share in key products.

Yang said that China would like to set up a refinery in Pakistan. He showed keen interest in PSO, in particular the working of supply and operations.

The team members appreciated the transformation of PSO into a modern, customer-focused oil marketing company, which is now geared up to face the challenges of ever-changing, volatile POL environment.

Source: The News