PARCO - Energy lifeline for the nation.

Joint Ventures (JVs) have historically seen both success and failures. However, it has become clear to many companies globally that alliances - both equity JVs and contractual alliances - can be ideal for managing risks in uncertain markets, sharing the cost of large-scale capital investments and injection of entrepreneurial spirits.

PARCO's creation was the outcome of strong fraternal bonds between Pakistan and Abu Dhabi. Its subsequent expansion and development required a combination of strong financial base and commitment of technical and operational excellence, coupled with a reputation for conducting business in a transparent, fair and professional manner. All these are vital ingredients underpinning PARCO's sustained growth.

By adhering to the above stated principles, PARCO has been able to fully meet its obligations to its shareholders, employees, business partners, the State and the society. The Company was incorporated in 1974, as a 60:40 joint venture between Government of Pakistan (GOP) and Emirate of Abu Dhabi, through its Mubadala Investment Company.

Today, PARCO under the patronage of Government of Pakistan (GOP) and Emirate of Abu Dhabi, operates over 2,000 km of cross-country oil pipelines; a state-of-the-art 120,000 barrels per day operating oil refinery; and strategic storage facilities. In addition, it has several marketing initiatives, including the second largest retail fuel/lubricants network of TOTAL...