PSO Signs Petroleum Supply Deal with Oman’s OQ Trading
KARACHI: Pakistan State Oil (PSO), the country’s largest oil marketing company, has signed a Sale and Purchase Agreement (SPA) with Oman’s OQ Trading Limited (OQT) for the supply of petroleum products, marking a key development in bilateral energy cooperation between Pakistan and Oman.
According to a material information disclosure submitted to the Pakistan Stock Exchange (PSX), PSO signed the agreement on October 8, 2026. The signing followed approval from PSO’s Board of Management and the Federal Cabinet.
PSO, OQ Trading Finalize Petroleum Supply Deal
The agreement falls under an Inter-Governmental Agreement (IGA) signed by Pakistan and Oman on May 14, 2018. Under this arrangement, Oman nominated OQ Trading Limited to represent its interests. Pakistan designated PSO to represent its government.
Following the 2018 agreement, PSO engaged with OQT to finalize the petroleum supply contract. The parties have now signed the SPA after completing the required approval process.
The agreement establishes a contractual framework for petroleum product supplies between the two designated entities. It also reflects continued cooperation between Pakistan and Oman in the energy sector.
Petroleum Supplies Remain Important for Pakistan
Petroleum products support Pakistan’s transport network, industrial activity and power generation. Reliable fuel supplies are therefore essential to meet domestic demand and support economic activity.
Pakistan relies heavily on imported crude oil and petroleum products to meet its energy needs. International supply agreements can help establish procurement arrangements and strengthen commercial cooperation.
However, PSO has not disclosed the expected supply volumes or specific commercial terms of the newly signed agreement.
PSO Plays a Key Role in Pakistan’s Fuel Market
PSO is Pakistan’s largest oil marketing company and plays a central role in the country’s petroleum supply chain. Its operations include petroleum procurement, storage and distribution across various economic sectors.
OQ Trading Limited is an international energy trading company associated with Oman’s energy sector. Its nomination under the 2018 inter-governmental agreement provided the basis for negotiations with PSO.
PSO Discloses Agreement to Pakistan Stock Exchange
PSO submitted the material information disclosure under Section 96 of the Securities Act, 2015, and Clause 5.6.1(a) of the PSX Regulations. These provisions cover the disclosure of material information by listed companies.
The announcement did not specify the supply volume, agreement duration, pricing mechanism or expected financial impact on PSO. Further details would help investors assess the agreement’s implications for the company’s procurement strategy and financial performance.
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