Pak-Arab Refinery Company Limited (PARCO) () is a Pakistani oil and gas company active in refining, transporting and marketing petroleum products.Prime Minister (PM) approves new Board of Directors
Business Recorder, Published 28 April 2020, Retrieved 14 September 2020 It is a joint-venture between governments of Pakistan and

Abu Dhabi Abu Dhabi is the capital city of the United Arab Emirates. The city is the seat of the Abu Dhabi Central Capital District, the capital city of the Emirate of Abu Dhabi, and the UAE's List of cities in the United Arab Emirates, second-most popu ...

History

PARCO, a joint venture between

Government of Pakistan The Government of Pakistan () (abbreviated as GoP), constitutionally known as the Federal Government, commonly known as the Centre, is the national authority of the Islamic Republic of Pakistan, a federal republic located in South Asia, con ...

and the

Emirate of Abu Dhabi The Emirate of Abu Dhabi is one of seven Emirates of the United Arab Emirates, emirates that constitute the United Arab Emirates. It is the largest emirate, accounting for 87% of the nation's total land area or . Abu Dhabi also has the second ...

was incorporated as a public limited company in 1974. The Government of Pakistan holds 60% of the share holding while 40% of the shares are held by Emirate of Abu Dhabi. In 2010, the company set up a Diesel Hydro Desulfurization Unit to ensure that Diesel produced by the refinery meets international Euro-II standards. In

bitumen Bitumen ( , ) is an immensely viscosity, viscous constituent of petroleum. Depending on its exact composition, it can be a sticky, black liquid or an apparently solid mass that behaves as a liquid over very large time scales. In American Engl ...

, PARCO commissioned a 500 t d Biturox oxidation unit at its Mehmood Kot refinery in 2012. In September 2012, 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. On 12 April 2017, the company announced that it will use technologies from

Honeywell Honeywell International Inc. is an American publicly traded, multinational conglomerate corporation headquartered in Charlotte, North Carolina. It primarily operates in four areas of business: aerospace, building automation, industrial automa ...

to upgrade its refinery near

Multan Multan is the List of cities in Punjab, Pakistan by population, fifth-most populous city in the Punjab, Pakistan, Punjab province of Pakistan. Located along the eastern bank of the Chenab River, it is the List of cities in Pakistan by populatio ...

, Pakistan to produce cleaner-burning fuels. In 2019, Pak-Arab Refinery announced to build its coastal refinery project near Hub, Balochistan, which would be have a capacity of 250,000 barrels per day with an estimated cost of over $ 5 billion.

Subsidiaries

PARCO Gunvor

PARCO Gunvor Limited was founded in late 2002 as Total PARCO Pakistan Limited, a

joint venture A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acce ...

between PARCO and

TotalEnergies TotalEnergies SE is a French multinational integrated energy and petroleum company founded in 1924 and is one of the seven supermajor oil companies. Its businesses cover the entire oil and gas chain, from crude oil and natural gas explorati ...

, and began retail operations the following year. In 2009, a 50,000 t y lubricant-blending plant at Port Qasim,

Karachi Karachi is the capital city of the Administrative units of Pakistan, province of Sindh, Pakistan. It is the List of cities in Pakistan by population, largest city in Pakistan and 12th List of largest cities, largest in the world, with a popul ...

, became operational under its subsidiary Total Atlas Lubricants Pakistan, a joint venture with the Atlas Group first formed in 1997. In 2013, Total PARCO acquired 438 petrol stations of Chevron Pakistan. Total Parco then re-branded roughly 438 Caltex petrol stations within 18 months. In 2024,

exited Pakistan and sold its 50 percent stake in Total PARCO to Gunvor and Total PARCO was renamed as PARCO Gunvor Limited. PARCO Gunvor manages more than 800 multi-product service stations that sell motor gasoline, diesel, compressed natural gas (CNG) and lubricants, supported by depots, coastal terminals and integration with PARCO's 2,000-kilometre pipeline grid.

Board of directors

*Anees Shakeel from

Sindh Sindh ( ; ; , ; abbr. SD, historically romanized as Sind (caliphal province), Sind or Scinde) is a Administrative units of Pakistan, province of Pakistan. Located in the Geography of Pakistan, southeastern region of the country, Sindh is t ...

*Abdul Hadi Shah from

Khyber Pakhtunkhwa Khyber Pakhtunkhwa (; ; , ; abbr. KP or KPK), formerly known as the North West Frontier Province (NWFP), is a Administrative units of Pakistan, province of Pakistan. Located in the Northern Pakistan, northwestern region of the country, Khyber ...

*Bushra Naz Malik from

Punjab Punjab (; ; also romanised as Panjāb or Panj-Āb) is a geopolitical, cultural, and historical region in South Asia. It is located in the northwestern part of the Indian subcontinent, comprising areas of modern-day eastern Pakistan and no ...

*Syed Aoun Raza Rizvi overseas

References

External links