PSO Delivers Resilient FY26 Performance as Core Business Grows Strongly Through Hormuz Crisis

In a year that tested regional energy supply chains, continuity was delivered safely.

Key points

• After a gathering of the Board of Management held on September 25, 2026, PSO confirmed its financial results for the fiscal year concluded June 30, 2026.
• Lubricant volumes rose by 6% to 44, 000 tonnes, LPG contribution almost tripled, and chemicals volumes grew by 203% to 5, 170 metric tonnes.
• 54.8 Billion Profit in FY26 After Prior-Year Loss.
• Standalone profit after tax stood at PKR 15.07 billion, translating into earnings per share of PKR 32.1.
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Pakistan State Oil Firm Limited (PSO) closed FY2026 with zero fatalities, more than 48 million safe man hours, and lost time injury and total recordable incident rates both at 0.07, a performance produced feasible by the company's supply chain, terminals, retail network, and residents, working in close coordination with the Administration of Pakistan, refineries, suppliers, carriers, dealers, and banks.

Refineries Swing to Massive Rs. 54.8 Billion Profit in FY26 After Prior-Year Loss.

"FY2026 tested this Firm, and I am proud of how PSO responded. Pakistan's fuel supply was not interrupted for a single day, and we did it safely. As Pakistan's national energy firm, we carry a responsibility that goes beyond business performance, ensuring energy security, keeping critical sectors of the economy moving, and supporting the country's energy needs through periods of disruption and change. Our nationwide supply chain, storage infrastructure, and distribution network enable us to stand ready when Pakistan needs energy most. Meanwhile, the base business absorbed a PKR 10.7 billion swing in LNG and still grew, leaving PSO stronger, better balanced, and more resilient than it was twelve months ago. Our direction is clear: Fueling Pakistan. Everyday. No exceptions, " remarked Jawwad Ahmed Cheema, Chief Executive Officer.

After a gathering of the Board of Management held on September 25, 2026, PSO confirmed its financial results for the fiscal year concluded June 30, 2026. At the Group level, PSO delivered a stronger financial performance, with PSO's share in consolidated profit after tax rising to PKR 25.49 billion, alongside gross revenue of PKR 3.42 trillion.

Standalone profit after tax stood at PKR 15.07 billion, translating into earnings per share of PKR 32.1. Gross profit rose to PKR 99.9 billion, compared with PKR 96.7 billion in the previous year. More significantly, excluding LNG, gross profit grew by 20.5%, from PKR 67.9 billion to PKR 81.9 billion. The solid core-business expansion reflects PSO's resilience and sustained performance in a challenging environment.

Financial discipline and working capital management remained a solid focus. Trade receivables fell from PKR 437.5 billion to PKR 414.8 billion, with SNGPL receivables alone down PKR 34.3 billion; together with lower discount rates, this reduced finance costs by 24%. PSO continues to work with the Administration of Pakistan toward a durable resolution of circular debt.

For context, the year's supply performance was fortified by proactive import and procurement planning, prudent inventory management backed by the company's 1.23 million metric ton storage network, the largest in the country, and vigilant cargo scheduling. These measures ensured that every segment of the market remained consistently served even at the peak of regional uncertainty, demonstrating the strength and reach of PSO's nationwide supply infrastructure.

PSO maintained its leadership of the white oil market with a 42.7% market share and reinforced its position as Pakistan's aviation fuel supplier of choice with a 99% market share, generating foreign exchange earnings of over US$360 million during the year.

Meanwhile, the company's diversified businesses delivered notable results. Lubricant volumes rose by 6% to 44, 000 tonnes, LPG contribution almost tripled, and chemicals volumes grew by 203% to 5, 170 metric tonnes. While its convenience retail network grew to more than 350 sites, PSO additionally continued to strengthen its nationwide retail presence, expanding its network to 3, 688 outlets.

Looking ahead, PSO's FY2027 agenda begins with operational excellence: everyday safety without exception, product availability at every site, correct cost and quantity at every pump, honest measurement, disciplined credit, and orders delivered when promised. On that foundation, the firm will drive integration throughout its supply chain so that refinery offtake, imports, storage, distribution, and commercial planning operate as one system planned backwards from the customer.

It will grow core fuel volumes with a sharper focus on margin, accelerate urban retail development, scale lubricants and LPG, advance its digital and payments platform, and deliver key infrastructure commitments, including the White Oil Pipeline, site solarization, and EV charging. Another Pakistani Firm Enters UK.

PSO's performance is powered by its individuals, and the business remains committed to their safety and wellbeing as it continues to deliver for the country. The trust placed in PSO by the individuals of Pakistan is a responsibility the business values deeply and seeks to uphold through reliable service, responsible operations, and continued commitment to the nation.

PSO management extends its gratitude to the Board of Management, the Administration of Pakistan, the Ministry of Energy (Petroleum Division), shareholders, employees, business partners, and all stakeholders for their continued trust and backing. Stay Connected with ProPakistani.

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In short, PSO Delivers Resilient FY26 Performance as Core Business Grows Strongly Through Hormuz is the central thread here, and readers can expect follow-up reporting as the picture becomes clearer.