COMPANY PROFILE – Energy Lifeline for the Nation
PAK ARAB REFINERY LTD (PARCO) is a Joint Venture between Government of Pakistan and the Emirate of Abu Dhabi, incorporated as a public limited company in 1974. 60% of the share holding is by the Government of Pakistan and 40% by the Emirate of Abu Dhabi through its Abu Dhabi Petroleum Investment Company L.L.C. (ADPI), a subsidiary group of International Petroleum Investment Company (IPIC).
PARCO's major business activities are:
PARCO is an integrated energy company, and is a key player in the country’s strategic oil supply and logistics. With a refining capacity of 100,000 BPD, combined storage capacity of over one million metric tons, a marketing joint venture with TOTAL (France), a technical support venture with OMV (Austria), PARCO has emerged as the strategic fuel supplier to the country with a broad portfolio of operational ventures. The organisation encompasses Pakistan’s largest refinery and 2000 kms of cross country pipeline network, including 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 sixteen 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).