In a year that tested regional energy supply chains, continuity was delivered safely. Pakistan State Oil Company Limited (PSO) closed FY2026 with zero fatalities, more than 48 million safe man hours, and lost time injury and total recordable incident rates both at 0.07, a performance made possible by the company’s supply chain, terminals, retail network and people, working in close coordination with the Government of Pakistan, refineries, suppliers, carriers, dealers and banks.
“FY2026 tested this Company, and I am proud of how PSO responded. Pakistan’s fuel supply was not interrupted for a single day, and we did it safely. As Pakistan’s national energy company, we carry a responsibility that goes beyond business performance, ensuring energy security and keeping critical sectors of the economy moving and supporting the country’s energy needs through periods of disruption and change. Our nationwide supply chain, storage infrastructure and distribution network enable us to stand ready when Pakistan needs energy most. The base business absorbed a PKR 10.7 billion swing in LNG and still grew, leaving PSO stronger, better balanced and more resilient than it was twelve months ago. Our direction is clear: Fueling Pakistan. Everyday. No exceptions.” said Jawwad Ahmed Cheema, Chief Executive Officer.
PSO announced its financial results for the fiscal year ended June 30, 2026, following a meeting of the Board of Management held on September 25, 2026. At the Group level, PSO delivered a stronger financial performance, with PSO’s share in consolidated profit after tax rising to PKR 25.49 billion, alongside gross revenue of PKR 3.42 trillion. Standalone profit after tax stood at PKR 15.07 billion, translating into earnings per share of PKR 32.1. Gross profit increased to PKR 99.9 billion, compared with PKR 96.7 billion in the previous year. More significantly, excluding LNG, gross profit grew by 20.5%, from PKR 67.9 billion to PKR 81.9 billion. The strong core-business growth reflects PSO’s resilience and sustained performance in a challenging environment.
Financial discipline and working capital management remained a strong focus. Trade receivables fell from PKR 437.5 billion to PKR 414.8 billion, with SNGPL receivables alone down PKR 34.3 billion; together with lower discount rates, this reduced finance costs by 24%. PSO continues to work with the Government of Pakistan toward a durable resolution of circular debt.
The year’s supply performance was fortified by proactive import and procurement planning, prudent inventory management supported by the company’s 1.23 million metric tons storage network, the largest in the country, and vigilant cargo scheduling. These measures ensured that every segment of the market remained consistently served even at the peak of regional uncertainty, demonstrating the strength and reach of PSO’s nationwide supply infrastructure.
PSO maintained its leadership of the white oil market with a 42.7% market share and reinforced its position as Pakistan’s aviation fuel supplier of choice with a 99% market share, generating foreign exchange earnings of over US$360 million during the year.
The company’s diversified businesses delivered notable results. Lubricant volumes increased by 6% to 44,000 tonnes, LPG contribution nearly tripled, and chemicals volumes grew by 203% to 5,170 metric tonnes. PSO also continued to strengthen its nationwide retail presence, expanding its network to 3,688 outlets, while its convenience retail network grew to more than 350 sites.
Looking ahead, PSO’s FY2027 agenda begins with operational excellence: everyday safety without exception, product availability at every site, correct price and quantity at every pump, honest measurement, disciplined credit and orders delivered when promised. On that foundation, the company will drive integration across its supply chain so that refinery offtake, imports, storage, distribution and commercial planning operate as one system planned backwards from the customer. It will grow core fuel volumes with a sharper focus on margin, accelerate urban retail development, scale lubricants and LPG, advance its digital and payments platform, and deliver key infrastructure commitments including the White Oil Pipeline, site solarization and EV charging.
PSO’s performance is powered by its people, and the company remains committed to their safety and wellbeing as it continues to deliver for the country. The trust placed in PSO by the people of Pakistan is a responsibility the company values deeply and seeks to uphold through reliable service, responsible operations and continued commitment to the nation.
PSO management extends its gratitude to the Board of Management, the Government of Pakistan, the Ministry of Energy (Petroleum Division), shareholders, employees, business partners and all stakeholders for their continued trust and support.
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