PSO posts Rs15.07bn profit, fuel supply unbroken during Hormuz crisis

Pakistan State Oil Company Limited announced its financial results for the fiscal year ended June 30, 2026 on September 25, saying Pakistan's fuel supply was not interrupted for a single day during the Strait of Hormuz crisis. The announcement followed a Board of Management meeting. Arab News PK also reported that the company said fuel supplies remained uninterrupted during the crisis.

At group level, PSO's share of consolidated profit after tax rose to Rs25.49 billion on gross revenue of Rs3.42 trillion. Standalone profit after tax came to Rs15.07 billion, or Rs32.1 per share. Gross profit increased to Rs99.9 billion from Rs96.7 billion a year earlier. Excluding LNG, gross profit grew 20.5 percent to Rs81.9 billion from Rs67.9 billion.

Chief Executive Officer Jawwad Ahmed Cheema said the base business absorbed a Rs10.7 billion swing in LNG and still grew, leaving PSO stronger, better balanced and more resilient than twelve months earlier. He said the company's responsibility goes beyond business performance to ensuring energy security for Pakistan.

On safety, PSO reported zero fatalities and more than 48 million safe man hours, with lost time injury and total recordable incident rates both at 0.07. Trade receivables fell from Rs437.5 billion to Rs414.8 billion, including a Rs34.3 billion reduction in SNGPL receivables, which helped cut finance costs by 24 percent. PSO said it continues to work with the government on a durable resolution of circular debt. The company's supply chain is supported by a nationwide storage network of 1.23 million metric tons, the largest in the country, with proactive import and inventory planning.

PSO maintained a 42.7 percent share of the white oil market and a 99 percent share in aviation fuel, earning over US$360 million in foreign exchange during the year. Its lubricant volumes rose 6 percent to 44,000 tonnes, LPG contribution nearly tripled, and chemicals volumes grew 203 percent to 5,170 metric tonnes. The retail network expanded to 3,688 outlets, with more than 350 convenience retail sites.

The company said its FY2027 agenda includes operational excellence, supply chain integration, growth in core fuel volumes, and infrastructure commitments including the White Oil Pipeline, site solarization and EV charging.