November 22, 2014 9:29 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Pak Arab Refinery Limited

Company Overview

Pak Arab Refinery Limited, an integrated energy company, engages in the refining, transportation, storage, and marketing of petroleum and related products in Pakistan. It operates a network of crude oil-cum-product pipelines. The company’s products include fuels and lubricants, OMV lubricants, automotive engine oils, gear oils, and sulfur products; and furnace oil to captive power, cement plants, and other industries. Pak Arab Refinery Limited has strategic partnerships with TOTAL PARCO PAKISTAN LTD., SHV ENERGY PAKISTAN, OMV, and PAK - ARAB PIPELINE COMPANY LIMITED. The company was founded in 1974 and is headquartered in Karachi, Pakistan.

Korangi Creek Road

Karachi,  75190

Pakistan

Founded in 1974

Phone:

92 21 3509 0100

Fax:

92 21 3509 0625

Key Executives for Pak Arab Refinery Limited

General Manager of Finance
Chief Executive Officer of PAPCO
Managing Director of Parco and Managing Director of Pak-Arab Refinery Ltd.
Head of Internal Audit
Company Secretary
Compensation as of Fiscal Year 2014.

Pak Arab Refinery Limited Key Developments

Privatisation Commission Of Pakistan To Present Privatization Plan

The Privatisation Commission of Pakistan will brief the Public Accounts Committee memberson its plan to privatize 31 public sector entities. Chairman of Public Accounts Committee, Syed Khursheed Shah, summoned the meeting for a briefing from the commission. The plan includes Oil and Gas Development Co., Ltd. (KASE:OGDC), 78% stake in Pakistan Petroleum Ltd. (KASE:PPL); 20% stake in Mari Petroleum Company Limited (KASE:MARI); Government Holdings (Private) Limited;60% stake in Pak Arab Refinery Limited, 25% stake in Pakistan State Oil Company Limited (KASE:PSO); 60% stake in Sui Southern Gas Co., Ltd. (KASE:SSGC) and Sui Northern Gas Pipelines Ltd. (KASE:SNGP). The banking sector privatization plan includes 42% stake in Habib Bank Limited (KASE:HBL) through secondary public offering, 20% stake in United Bank Ltd. (KASE:UBL) through secondary public offering, 10% stake in Allied Bank Limited (KASE:ABL) through secondary public offering, 76% stake in National Bank of Pakistan (KASE:NBP) through disinvestment with management control (preferably) or block sales to qualified investor, State Life Insurance Corporation of Pakistan Ltd; Nimir Industrial Chemicals Limited. (KASE:NICL); National Investment Trust Limited; 94% stake in Small and Medium Enterprise Development Authority with disinvestment with management control or merger with tier II/III banks and 51% stake in Pakistan Reinsurance Company Ltd. (KASE:PAKRI) through disinvestment with management control. The power sector includes Islamabad Electric Supply Company Limited, Faisalabad Electric Supply Company Limited, Hyderabad Electric Supply Company Ltd.; Jamshoro Power Company Limited; Jamshoro Power Company Limited; Muzaffargarh Power Company; National Power Construction Corporation (Pvt) Limited and 46% stake in Kot Addu Power Co. Ltd. (KASE:KAPCO). The proposal also includes Heavy Electrical Complex (Pvt.) Ltd.; Pakistan Steel Mills Corporation (PVT) LTD.; 25% stake in Pakistan Engineering Company Limited (KASE:PECO); Pakistan International Airlines Corporation (KASE:PIAA) restructuring followed by disinvestment of 26% government equity stakes to strategic partner with management control, 90% stake in Pakistan National Shipping Corp. (KASE:PNSC);Convention Center Islamabad and PIA Investments Ltd. The Commission will also inform the PAC about its privatization process of PIA regarding the appointment of financial advisor for disinvestment of 26% stake in PIA, 96% stake in Heavy Electric Complex, 88% stake in National Power Construction Corporation (Pvt) Limited, disinvestment of government shareholdings in Habib Bank Limited (KASE:HBL), United Bank Ltd. (KASE:UBL) and Allied Bank Limited (KASE:ABL), 5% stake in Pakistan Petroleum Ltd. (KASE:PPL) and 10% stake in Oil and Gas Development Co., Ltd. (KASE:OGDC).

Pakistan's Cabinet Committee Clears Privatization Plan For 31 Companies

The government decided in the Cabinet Committee on Privatization to direct the Privatisation Commission to immediately initiate the process for sale of 31 public sector entities (PSEs) through initial and secondary public offering and transfer of 26% along with management control, to the private sector. The statement said, "After thorough deliberations, the committee agreed to initiate the process of privatization and directed the commission to ensure that the interests of employees were to be protected at all cost. Most of the PSEs will be offered to the private sector through strategic divestment, including up to 26% stakes along with management control, while shares of other companies will be offloaded through public offering." The companies include Pakistan Petroleum Ltd. (KASE:PPL), Pak Arab Refinery Limited, Pakistan State Oil Company Limited (KASE:PSO), Sui Southern Gas Co., Ltd. (KASE:SSGC), Sui Northern Gas Pipelines Ltd. (KASE:SNGP), Pakistan International Airlines Corporation (KASE:PIAA), Pakistan Railways, Gujranwala Electric Supply Company Limited, Lahore Electric Supply Company Limited, Islamabad Electric Supply Company Limited, Faisalabad Electric Supply Company Limited, National Power Construction Corporation (Pvt) Limited, Pakistan National Shipping Corp. (KASE:PNSC), Pakistan Steel Mills Corporation (Pvt.) Ltd., Roosevelt Hotel Corporation NV, Oil and Gas Development Co., Ltd. (KASE:OGDC) and Northern Power Generation Company Limited.

Pakistan Privatization Commission To Privatize 71 Companies

The Privatization Commission has formally prepared a list of 71 Public Sector Entities (PSEs) for divestment on fast-track basis subject to reaffirmation by the Council of Common Interests (CCI) of its approved privatization programme. The list includes companies from engineering, mineral and natural resources, tourism and transport. The companies include Pakistan International Airlines Corporation (KASE:PIAA), Sui Northern Gas Pipelines Ltd. (KASE:SNGP), Sui Southern Gas Co., Ltd. (KASE:SSGC), Karachi Electric Supply Company Limited (KASE:KESC), Pakistan National Shipping Corp. (KASE:PNSC), Pakistan State Oil Company Limited (KASE:PSO), Pakistan Petroleum Ltd. (KASE:PPL), Oil and Gas Development Co., Ltd. (KASE:OGDC), Kot Addu Power Co. Ltd. (KASE:KAPCO), Jamshoro Power Company Limited, Pak Arab Refinery Limited; Karachi Port Trust, Mari Petroleum Company Limited (KASE:MARI), Government Holdings (Private) Limited, Islamabad Electric Supply Company Limited, Faisalabad Electric Supply Company Limited, National Power Construction Corporation (Pvt) Limited, Lakhra Power Generation Company Limited, Peshawar Electric Supply Company Limited, Pakistan Mineral Development Corporation, Saindak Development Corporation, PIA Investments Ltd; Pakistan Civil Aviation Authority, Pakistan National Highway Authority, Pakistan Railways, Multan Electric Power Co. Ltd., Port Qasim Authority, Lahore Electric Supply Company Limited, Hyderabad Electric Supply Company Ltd., Quetta Electric Supply Company Ltd., Services International Hotel, Gujranwala Electric Supply Company Limited; Central Power Generation Company Limited, Sukkur Electric Power Company and Lakhra Coal Development Company Limited.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
July 25, 2014
Pakistan Refinery Ltd.
Merger/Acquisition
July 3, 2014
Total Parco Pakistan Ltd.
 

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