OGRA consents to HASCOL and TPPL's joint operations in Sahiwal and Daulatpur

MG News | March 08, 2019 at 09:57 AM GMT+05:00

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March 8, 2019 (MLN): Oil and Gas Regulatory Authority (OGRA) has granted its approval to Hascol Petroleum Limited (HASCOL) for sharing its storage facilities with Total Parco Pakistan Limited (TPPL) located in Sahiwal and Daulatpur - official announcement.

Last year on February 15, 2018, HASCOL had entered into a Joint Operations Agreement with TPPL wherein TPPL was to buy assets worth Rs.400 million from HASCOL at its Sahiwal and Daulatpur oil storage depots.

In an announcement to the Pakistan Stock Exchange (PSX), HASCOL had announced that both the companies were to undertake their operations jointly at Sahiwal and Daulatpur oil storage depots and share the costs on throughput basis.

This transaction was subject to the approval of OGRA.

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