PSO refutes allegations of decision to divest from PRL

MG News | December 08, 2023 at 09:04 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

December 08, 2023 (MLN): Pakistan State Oil (PSO) has denied media reports claiming that the company has reached a decision to divest its stake in Pakistan Refinery Limited (PSX: PRL), terming them as inaccurate and misleading.

These media reports asserted that the oil giant made this decision to overcome its liquidity crises stemming from the accumulation of receivables.

Furthermore, these reports stated that the company opted to sell its stake to a Chinese energy giant.

However, through this statement, PSO has clarified that this news is false and baseless.

It is important to mention that PRL is a subsidiary of PSO.

Going forward, PSO remains committed to its strategic investments and partnerships in the energy sector.

"Any decision regarding shareholding in subsidiaries or affiliates would be made through a transparent process as per state law," the statement issued by the company added.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	181,398.22 445.72M	0.49% 887.19
ALLSHR	109,207.09 1,229.93M	0.60% 651.22
KSE30	54,098.50 207.37M	0.48% 257.23
KMI30	258,982.79 206.69M	0.63% 1632.68
KMIALLSHR	70,885.99 618.36M	0.67% 471.82
BKTi	49,433.60 45.14M	-0.05% -23.01
OGTi	37,143.87 18.42M	0.59% 217.29

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	64,935.00	66,160.00 64,825.00	-765.00 -1.16%
BRENT CRUDE	79.10	79.57 77.75	0.14 0.18%
RICHARDS BAY COAL MONTHLY	123.00	0.00 0.00	7.50 6.49%
ROTTERDAM COAL MONTHLY	125.50	0.00 0.00	-0.40 -0.32%
USD RBD PALM OLEIN	1,157.50	1,157.50 1,157.50	0.00 0.00%
CRUDE OIL - WTI	75.37	76.06 74.09	0.10 0.13%
SUGAR #11 WORLD	14.24	14.33 14.22	-0.07 -0.49%