Pakistan State Oil (PSO), in an attempt to start transporting oil to strengthen its supply chain, has signed a memorandum of understanding (MoU) with the Pakistan National Shipping Corporation (PNSC) for using PNSC vessels for the transport of imported furnace oil to Pakistan.
According to a statement, PSO CEO and MD Naeem Y Mir and PNSC Chairman Saleem Ahmed Meenai inked the MoU at the Governor’s House. Also present were Prime Minister Raja Pervez Ashraf, Sindh Governor Dr Ishratul Ibad, Chief Minister Qaim Ali Shah and Adviser to PM on Petroleum and Natural Resources Dr Asim Hussain.
With the signing, PSO said it had moved one step closer to becoming a fully integrated oil company. PSO will utilise Pakistani ocean liners for bringing imported fuel oil, which will strengthen the company’s supply chain and reduce dependence on foreign shipping networks.
Published in The Express Tribune, August 11th, 2012.