Pakistan Petroleum
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Pakistan Petroleum Limited was incorporated June 5, 1950, when it inherited the assets and liabilities of the Burmah Oil Company Ltd. which initially holds 70% of the share with the rest mostly held by the Government of Pakistan (GoP). Currently, GoP hold 78.35% of the shares, International Finance Corporation (6.09%) and institutional and individual investors (15.56%).
The company operates major gas oil fields including Sui and has non-operating interests in other fields and has an interest in an exploration portfolio onshore and offshore.
The company is headquartered in Karachi and is in the midst of a privatization process expected to complete in 2006.
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