Karachi November 2 2022: Hascol Petroleum Limited sales witnessed increase of 46 percent in the month of October 2022, according to data published by Oil Companies Advisory Council.
Hascol captures 2.04 percent market share in October compared to less than 1 percent in the same month last year.
“The reconstituted Board and new management formulated a business revival and financial restructuring plan and are currently in an advanced stage to finalize the term sheet with its lenders” says Company Chairman Alan Duncan
Share price of the company rise 45 paisa or 6.9 percent to trade at PKR 6.97 at PST 14:30, according to Pakistan Stock Exchange.
Company Petrol sales increased 34 percent year on year to 21 thousand tons and Diesel sales increased 81 percent to 13 thousand tons during October 2022.
About the company
Hascol Petroleum Limited was incorporated in Pakistan as a private limited company on March 28, 2001. On September 12, 2007 the Company was converted into a public unlisted company. The Company is engaged in the business of procurement, storage and marketing of petroleum, chemicals, LPG and related products. The Company obtained oil marketing license from Ministry of Petroleum and Natural Resources in the year 2005 and acquired assets of LPG licensed company in the year 2018.