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Service Essay

3802 words - 16 pages

Financial Management
Financial Forecasting of PSO

8/27/2014
Submitted To: Ma’am Misbah Iqbal
Group Members:

Yumna Asif 11843
Zainab Imtiaz 11915
Muneeb Fazal 12716
Nawabzada Asad Jawaid 13084

Table of Contents
ACKNOWLEDGEMENT 5
LETTER OF TRANSMITTAL 6
INTRODUCTION 7
History: 7
Business at a Glance: 7
 Marketing & Distribution: 8
 Acquisition of Products: 8
 Storage: 8
 Product Movement: 8
 Lubes Manufacturing & Sales: 9
Associated Companies: 9
 Asia Petroleum Limited (APL): 9
 Pak Grease Manufacturing Company (Private) Limited (PGMCL): 9
Industry Associations & Trade Bodies: 10
Company Ratings: 10
Shareholding Pattern: ...view middle of the document...

Secondly, we would like to thank our Faculty Ma’am Misbah Iqbal without whom it would have been impossible. Her deep knowledge reflected in her lectures helped us to come with this report. Lastly we would like to thank our co-workers and family.

LETTER OF TRANSMITTAL

August 26, 2014

Ma’am Misbah Iqbal
Course Instructor, Financial Management,
Institute of Business Management.

Respected Sir,
The desire report attached herewith, describes a detailed study done on Financial Forecasting of PSO and allocation of its afn, we believe, that the results of this study will be useful in assessing our evaluation capabilities.
We are thankful to you for your confidence on us to prepare this comprehensive report.

Sincerely,
Yumna Asif 11843
Zainab Imtiaz 11915
Muneeb Fazal 12716
Nawabzada Asad Jawaid 13084

INTRODUCTION
History:
The creation of Pakistan State Oil (PSO) can be traced back to the year 1974, when on January 1st; the government took over and merged Pakistan National Oil (PNO) and Dawood Petroleum Limited (DPL) as Premiere Oil Company Limited (POCL).
Soon after that, on 3rd June 1974, Petroleum Storage Development Corporation (PSDC) came into existence. PSDC was then renamed as State Oil Company Limited (SOCL) on August 23rd 1976. Following that, the ESSO undertakings were purchased on 15th September 1976 and control was vested in SOCL. The end of that year (30th December 1976) saw the merger of the Premier Oil Company Limited and State Oil Company Limited, giving way to Pakistan state Oil (PSO).
After PSO’s inception, the corporate culture underwent a comprehensive renewal program which was fully implemented in 2004. This program over the years included the revamping of the organizational architecture, rationalization of staff, employee empowerment and transparency in decision making through cross functional teams. This new corporate renewal program has divided the company’s major operations into independent activities supported by legal, financial, informative and other services. Inorder to reinforce and monitor this structural change, related check and balances have been established by incorporating monitoring and control systems.
Human Resource Development became one of the main priorities on the company’s agenda under this corporate reform.
It is due to this effective implementation of corporate reform and consistent application of the best industrial practices and business development strategies, that PSO has been able to maintain its market leadership in a highly competitive business environment.
Business at a Glance:
Pakistan State Oil (PSO), is the nation’s largest energy company, and is currently engaged in the marketing and distribution of various POL products including Motor Gasoline (Mogas), High Speed Diesel (HSD), Furnace Oil (FO), Jet Fuel (JP-1), Kerosene, CNG, LPG, Petrochemicals and Lubricants. In addition to these products, we also import other products based on their demand patterns.
A...

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