Pak-Arab Refinery Company Limited (PARCO) ( ur, ) is a Pakistani

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 ...

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

Business operations

PARCO, a joint venture between

Government of Pakistan The Government of Pakistan ( ur, , translit=hakúmat-e pákistán) abbreviated as GoP, is a federal government established by the Constitution of Pakistan as a constituted governing authority of the four provinces, two autonomous territorie ...

and the

Emirate of Abu Dhabi The Emirate of Abu Dhabi (, , or ; ar, إِمَارَةْ أَبُوظَبِي , ) is one of seven emirates that constitute the United Arab Emirates (UAE). It is by far the largest emirate, accounting for 87% of the nation's total land area ...

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. The major business activities include Crude Oil Refining and Transportation, Storage and Marketing of petroleum products. With a refining capacity of 120,000 Barrels Per Day, combined storage capacity of over one million tons, a marketing joint venture with

TOTAL Total may refer to: Mathematics * Total, the summation of a set of numbers * Total order, a partial order without incomparable pairs * Total relation, which may also mean ** connected relation (a binary relation in which any two elements are comp ...

(France) and a technical support venture with OMV (Austria); PARCO is the strategic fuel supplier for Pakistan. The organization encompasses Pakistan's second largest refinery (after Byco Petroleum Pakistan Ltd's ORC-2) and 2000 km of cross country pipeline network, including that of its subsidiary PAPCO. In 2010, the company set up a Diesel Hydro Desulfurization Unit to ensure that Diesel produced by the refinery meets international Euro-II standards. PARCO also commissioned a Biturox plant in 2012, which is expected to produce road paving bitumen. Pak-Arab Refinery Limited is a member of ''Oil Companies Advisory Council'' of Pakistan. 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 technologies, performance ma ...

to upgrade its refinery near

Multan Multan (; ) is a city in Punjab, Pakistan, on the bank of the Chenab River. Multan is Pakistan's seventh largest city as per the 2017 census, and the major cultural, religious and economic centre of southern Punjab. Multan is one of the olde ...

, Pakistan to produce cleaner-burning fuels. In 2019, Pak-Arab Refinery was building its coastal refinery project near

Hub, Balochistan Hub ( ur, ) is a city and capital of the Hub District in Balochistan, Pakistan. It is the 49th largest city of Pakistan by population according to the 2017 census, and is also Balochistan's fourth-largest city. Hub is an industrial city and ...

, which would be a state of the art refinery with capacity of 250,000 barrels per day with an estimated cost of over $ 5 billion.

Business products

Total PARCO

This company has retail outlets throughout Pakistan for its products. * Retail Fuels &

Lubricant A lubricant (sometimes shortened to lube) is a substance that helps to reduce friction between surfaces in mutual contact, which ultimately reduces the heat generated when the surfaces move. It may also have the function of transmitting forces, t ...

s * High Speed Diesel * Light Speed Diesel * Liquefied Petroleum Gas (LPG) *

Jet Fuel Jet fuel or aviation turbine fuel (ATF, also abbreviated avtur) is a type of aviation fuel designed for use in aircraft powered by gas-turbine engines. It is colorless to straw-colored in appearance. The most commonly used fuels for commercial a ...

Furnace Oil Fuel oil is any of various fractions obtained from the distillation of petroleum (crude oil). Such oils include distillates (the lighter fractions) and residues (the heavier fractions). Fuel oils include heavy fuel oil, marine fuel oil (MFO), bun ...

Kerosene Kerosene, paraffin, or lamp oil is a combustible hydrocarbon liquid which is derived from petroleum. It is widely used as a fuel in aviation as well as households. Its name derives from el, κηρός (''keros'') meaning " wax", and was reg ...

Oil

Board of Directors

*Aftab Hussain from

Sindh Sindh (; ; ur, , ; historically romanized as Sind) is one of the four provinces of Pakistan. Located in the southeastern region of the country, Sindh is the third-largest province of Pakistan by land area and the second-largest province ...

*Abdul Hadi Shah from

Khyber Pakhtunkhwa Khyber Pakhtunkhwa (; ps, خېبر پښتونخوا; Urdu, Hindko: خیبر پختونخوا) commonly abbreviated as KP or KPK, is one of the Administrative units of Pakistan, four provinces of Pakistan. Located in the Geography of Pakistan, ...

*Bushra Naz Malik from

Punjab Punjab (; Punjabi: پنجاب ; ਪੰਜਾਬ ; ; also romanised as ''Panjāb'' or ''Panj-Āb'') is a geopolitical, cultural, and historical region in South Asia, specifically in the northern part of the Indian subcontinent, comprising ...

*Syed Auon Raza Rizvi name=BR/> Overseas

References

External links