Pak-Arab Refinery

Pak-Arab Refinery

PAK ARAB REFINERY LTD (PARCO) is a fully integrated energy company and is the second largest company in the Pakistan’s corporate sector by sales (PKR 250BN+) with an asset base approaching Rs. 141 billion. PARCO, a Joint Venture between Government of Pakistan and the Emirate of Abu Dhabi was incorporated as a public limited company in 1974. Government of Pakistan holds 60% of the share holding while 40% of the shares are held by Emirate of Abu Dhabi through its Abu Dhabi Petroleum Investment Company L.L.C. (ADPI), a holding company with majority shareholding held by International Petroleum Investment Company (IPIC) and minority shareholding held by OMV of Austria in which IPIC is also a major shareholder.

The company is a key player in Pakistan's strategic oil supply and logistics, and its major business activities include Crude Oil Refining and Transportation, Storage and Marketing of POL Products. With a refining capacity of 100,000 BPD, 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 with a broad portfolio of operational ventures. The organisation encompasses Pakistan’s largest refinery and 2000 km of cross country pipeline network, including that of its subsidiary PAPCO.

With continued support of the Emirate of Abu Dhabi, PARCO has been able to realize a number of energy projects that have contributed significantly in enhancing the country’s economic growth, saving foreign exchange, transferring technology and providing employment. The performance of the company can be judged by the fact that it has retained its AAA and A1+ long and short term credit rating by PACRA for fourteen consecutive years. The company set another first when it obtained three simultaneous international certifications: ISO 9001:2008 (Quality Management System), ISO 14001:2004 (Environmental Management System) and OHSAS 18001:2007 (Occupational Health and Safety Management System).

The company has also undergone continuous expansion and in 2010 set-up a Diesel Hydro Desulfurization Unit to ensure that Diesel produced by the refinery meets international Euro-II standards. PARCO also started work on an Asphalt plant in 2011 which is likely to be commissioned by end of 2012. Most recently 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.