HASCOL petroleum, a rapidly growing oil and marketing company, has applied to OGRA for getting marketing and distribution license of LPG. The company intends to develop a 15 acre storage and distribution setup at Port Qasim.
In a submission with Pakistan Stock Exchange, Zeeshan UI Haq (Company Secretary) informed that the company has already acquired 5 acre of land at Port Qasim. In order to acquire further 10 acre piece of land, they have applied to OGRA for approval of license for the said purpose.
The submission of HASCOL to PSX read as:
This is to inform that Hascol Petroleum Limited has applied for the marketing and distribution license of LPG with Oil & Gas Regulatory Authority (OGRA) and the case is under active consideration for approval of the Authority. The Company has acquired 5 acres of land at Port Qasim and has also filed an application to acquire additional 10 acres of land for developing the LPG terminal.
The LPG marketing and distribution license will add more to the company books. HASCOL’s share price has already touching new highs.