KARACHI: Admore Gas Chief Executive Officer Nadeem Jafarey has emphasised that deregulation in Pakistan’s petroleum market will prove good for all stakeholders, especially the consumers that will receive quality fuel at the best price.
“We have already improved our market share from 1% to 1.9% in just one year. Our target is to take this to 5-6% in the next five years,” said Jafarey in response to a question while talking to reporters at the launch of the company’s new logo at its office.
Admore, an oil marketing company, says it has already set its house in order by paying about Rs1 billion out of total defaulted legacy liabilities of Rs2 billion. Meanwhile, its volumes jumped to 174,000 tons, up 461% from 31,000 tons in just one year.
Admore has undertaken major capital expenditures in an effort to build storage capacity in the northern and southern regions of the country.
It has upgraded its Machike storage terminal in Punjab and is currently building its own storage facility at Daulatpur, Sindh, to cater to requirements of the retail network in upper Sindh and Balochistan.
The Daulatpur storage is scheduled to be completed by January 31, 2017 and it will have storage capacity of 3,200 tons with possibility of expansion in the future.
From January next year, the company also plans to launch a complete ‘brand refresh’. This new look and design will be launched at 10 to 15 retail outlets nationwide, which will later be introduced throughout its 450-plus retail sites over four to five years.
Founded in 2001, Admore Gas (Private) Limited is relatively a smaller player in the market. The company received its licence in 2003 and today it is marketing refined petroleum products and lubricants across individual, commercial and industrial market segments.
Published in The Express Tribune, December 30th, 2016.