Pakistan Oilfields Limited (POL) is a leading oil and gas exploration and production company listed on Pakistan Stock Exchange. The Company's prime focus is to deliver performance through excellence in the field of exploration, drilling and production of crude oil and gas.Read more »
To be the leading oil and gas exploration and production Company of Pakistan with the highest proven hydrocarbon reserves and production, and which provides optimum value to all stakeholders.
We aim to discover and develop new hydrocarbon reserves and enhance production from existing reserves through the application of the best available technologies and expertise. In achieving our aim, we will maximize the return to our shareholders, fully protect the environment, enhance the well-being of our employees and contribute to the national economy.
Pakistan Oilfields Limited maintains a highly diversified exploration and production portfolio. POL is presently operating nine Development and Production leases i.e. Pariwali, Meyal, Joyamair, Minwal, Dhulian, Khaur, Pindori, Turkwal and Balkassar.Read more »
Pakistan Oilfields Limited markets LPG under its own brand name of POLGAS. The Company has an extensive network of distributors across the country with presence in Punjab, Khyber Pakhtunkha, Azad Kashmir and Baluchistan.
Crude Oil: An oily, flammable liquid that occurs naturally in deposits, usually beneath the surface of the earth; it is also called crude oil. It consists principally of a mixture of hydrocarbons , with traces of various nitrogenous and Sulphurous compounds.
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Around 28,000 barrels per day of crude oil is being pumped to Attock Refinery through POL’s pipeline network
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It is Pakistan Oilfields Limited's policy to conduct its operations in accordance with the highest business ethical considerations, to comply with all statutory regulations and to conform to the best accepted standards of good corporate citizenship. The Board considers the maintenance of high standards of corporate governance a fundamental requisite in achieving the goal of maximizing shareholder value.
The Board has constituted a fully functional audit committee. All members of the audit committee are non-executive directors. The terms of reference of the audit committee have been approved by the Board as follows:
|a)|| Recommending to the Board the appointment of external auditors.
|b)|| Consideration of questions regarding resignation or removal of external directors, audit fees and provision by the external auditors of any service to the company in addition to the audit of the financial statements.
|c)|| determination of appropriate measures to safeguard the company’s assets.
|d)||review of preliminary announcements of results prior to publication.
|e)|| review of quarterly, half-yearly and annual financial statements of the listed company, prior to their approval by the Board of Directors, focusing on:
|f)|| facilitating the external audit and discussion with external auditors of major observations arising from interim and final audits and any matter that the auditors may wish to highlight (in the absence of management, where necessary).
|g)|| review of management letter issued by external auditors and management’s response thereto.
|h)||ensuring coordination between the internal and external auditors of the company.
|i)||review of the scope and extent of internal audit and ensuring that the internal audit function has adequate resources and is appropriately placed within the company.
|j)||consideration of major findings of internal investigations and management's response thereto.
|k)||ascertaining that the internal control system including financial and operational controls, accounting system and reporting structure are adequate and effective.
|l)|| review of the company’s statement on internal control systems prior to endorsement by the Board of Directors.
|m)|| instituting special projects, value for money studies or other investigations on any matter specified by the Board of Directors, in consultation with the Chief Executive and to consider remittance of any matter to the external auditors or to any other external body.
|n)|| determination of compliance with relevant statutory requirements.
|o)||monitoring compliance with the best practices of corporate governance and identification of significant violations thereof. |
|p)||consideration of any other issue or matter as may be assigned by the Board of Directors.|
Khan & Piracha,
A.F. Ferguson & Co
|Federal Board of Revenue|
|Central Depository Company|
|Ministry of Petroleum and Natural Resources|
|Securities and Exchange Commission of Pakistan|
|Pakistan Stock Exchange|
|Jamapunji - a subsidiary of the Securities and Exchange Commission of Pakistan|
|SECP's Investor Complaint Section|
Share certificates are evidence of your ownership and should be kept in a safe place. You will need them if you want to sell all or some of your shares in the future. We recommend that you keep a separate record of the certificate numbers and the number of shares each certificate covers in case of loss or damage. Share certificates are posted to shareholders at their own risk. .
If you intend to sell shares registered in your name, you have to complete a transfer deed form as per instructions given in the form and send the transfer deed to us. We will verify your signature from our record and return the verified transfer deed to you. You will then hand over the original share certificates along with the verified transfer deeds to the prospective buyer. The buyer will sign the transfer deed, affix the proper share transfer stamps and send the share certificates along with the executed transfer deed to the company for transfer in his/her name.
If you wish to deposit your physical shares in the CDC, send the original share certificates and transfer deeds duly verified by the Company to your member stock exchange. The member stock exchange will enter transaction details in the CDC system and send a deposit request along with the share transfer deeds and share certificates to us. We will verify and approve the transaction, after which the physical share(s) will be canceled and withheld by the Company. After the approval, your shares would be deposited into the CDC system and can be transacted electronically.
If you are a successor of a deceased shareholder and require transmission of the shares in your name, please provide us with a death certificate of the deceased shareholder along with any other details on the shareholding, if you have any. Upon receipt of the death certificate, the company will provide the details of the holdings of the deceased. On the basis of these details, you can apply to a competent court for a succession certificate. After necessary proceedings, the court will issue a succession certificate and the company will effect the transmission of shares as directed by the court.
If you loose your share certificates due to any reason, you have to register an FIR with the concerned police station and advertise the facts in a newspaper. You should then submit an indemnity bond, a copy of the FIR and newspaper advertisement to the company. The company will inform all the stock exchanges about the lost shares. The stock exchanges will publish the details of lost shares in their daily bulletins. Duplicate share certificates will be issued in place of lost shares if the company does not receive any objection to the issuing of duplicate share certificates within 21 days from the respective stock exchanges.
If your dividend warrant is misplaced, please submit an indemnity bond to the company with all the details of your holdings. The company will verify from its record of un-claimed dividends, inform the bank for stop payment of the lost dividend warrant and will issue a cheque in your name accordingly.
If you could not deposit your dividend warrant in a bank account within the stipulated time (dividend warrants are currently valid for a period of 6 months from the date of issue), please submit an application along with the original dividend warrant to the company for validation. The company will authenticate the dividend warrant by verifying from its record free of charge. After validation, the dividend warrant may be deposited with the bank.
Please contact Central Depository Company if you are a CDC account holder. If you have physical shares, please contact the Company Secretary of Pakistan Oilfields Limited.
We go thousands of feet underground to keep the flag high in the sky.