Acquisition : PARCO acquires Dutch-owned SHV Energy
Pak-Arab Refinery Limited (Parco) has acquired SHV Energy Pakistan with effect from October 1, 2012.
SHV Energy Pakistan was previously a 100% owned subsidiary of SHV Calor Asia BV (Netherlands) and is one of the largest liquefied petroleum gas (LPG) marketing and distribution companies in Pakistan. The company had been issued a licence for storage, processing, filling and distribution of LPG by the Oil and Gas Regulatory Authority (Ogra). It has a nationwide network of distributors and customers and also has expertise in industrial applications of LPG.
Parco is a joint venture between the Government of Pakistan and the Emirate of Abu Dhabi. PARCO, a fully integrated energy company is a key player in Pakistan’s oil supply and logistics and has become the strategic fuel supplier to the country with a broad portfolio of operational ventures in refining, transportation, storage and marketing of petroleum products.
Published in The Express Tribune, October 4th, 2012.
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ