Hascol Petroleum has entered into a Joint Operations Agreement with Total Parco Pakistan Limited in a deal worth Rs 400 million.
Under the deal, Total Parco Pakistan will buy assets worth Rs 400 million from Hascol for its Sahiwal and Daulatpur Oil storage depots. Both the companies will undertake their operations jointly at Sahiwal and Daulatpur oil storage depots and will share the costs via throughput basis respectively.
The deal is subject to the approval of OGRA and other regulatory approvals.
Hascol Petroleum Limited engages in the procurement, storage, and marketing of petroleum and related products in Pakistan. Its petroleum products include fuel oils, diesel, gasoline, jet fuel, and liquefied petroleum gas products.
The company also produces and markets a range of lubricants and greases under the FUCHS brand name. It also operates a network of approximately 400 retail fuel stations.
Total Parco Pakistan
Total Parco Pakistan Ltd. operates a network of oil retail stations in Pakistan. The company provides industrial fuels, such as furnace oil, kerosene, lubes, diesel, and LDO, as well as network fuels; special fluids that are used in applications, including cosmetics and soaps, crop protection, printing inks, drilling fluids, paints and varnishes, and textiles; and lubricants and marine oils.