Demand for Attok Oil Refinery Pipeline Road Construction

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Demand for Attok Oil Refinery Pipeline Road Construction

This petition made change with 89 supporters!
Arshad Sulahri started this petition to Imran Khan Prime Minster and

The Administration 
Attack Oil Refinery
Rawalpindi

Assalam o Alaikum, I would like to draw your kind attention towards the most important & serious issue of our locality i.e. Mumtaz Market, Dahama More Sadiq Town and Dahama Syedian including nearest arrears. Attack oil refinery is one the big name and prestige in Pakistan but unfortunately attack oil refinery pipeline is a black spot on its prestige; it led to bulldoze the humanity and toss the prestigious name of attack oil. It has been much time highlighted and brought in your kind notice that the above-said locality is suffering badly and live miserably due to your oil pipeline. Unconstructed pipeline road is almost converted into the dirty watercourse. The locality is being suffering; lives hazard diseases. It’s more dangerous for pregnant ladies and newly born babies as well as aged patients. The death ratio is too high as compare to other locality due to the above-said facts. In rainy days community couldn’t step in and out from their houses and they have to wait for many hours even it is not possible for them to bring their patients to hospital and sometimes they die at home. In the light of above, it is requested may please construct the said pipeline road, with tuff tile from “Dahama More Adyala Road to Dahmial Camp” to avoid the further losses of human lives. I hope that your higher authority will take this matter seriously and resolve it on a top priority basis. Your higher authority may pass the prompt directives for construction of the road as suggested; otherwise, the localities reserve the rights to come out for peaceful agitation. Looking forward to your positive favorable response

Pakistan Oilfields Limited’s (POL) pipeline risk to the lives and livelihoods of thousands

The report covers an issue that has remained unresolved for many decades and has affected the lives of thousands of residents of Chaklala Cantonment Board and Union Council Dhama Sayedan, on a daily basis. It is about an underground oil pipeline operated by Pakistan Oilfields Ltd (POL) that runs through a 33 feet wide road in a very densely populated area. This 33 feet wide road is also the main access for hundreds of houses and other smaller streets. Google maps show it as “Tulsa Rd – Adiala Link Rd”. A part of the road on google maps it is shown as “Caltex Road”. The road is right at the center of a densely populated locality that features houses, commercial malls, and many schools, thus posing risk to the people and their properties. The road as it can be seen in the pictures is in shambles and has created an environment that is totally unhygienic, unsafe and polluted with dust and mud. The road dust can also potentially cause breathing problems in the residents of the locality.   

Here it is important to give the readers a background of Pakistan Oilfields Limited (POL). POL is part of the Attock Group and is listed in Pakistan Stock Exchange (Karachi, Lahore, and Islamabad) as a public limited company. It is a highly profitable company. Last year POL recorded profits of Rs. 11.9bn. Here it is important to note that significant shares in the company are owned by foreign investors/directors Mr. Laith G. Pharaon and Mr. Wael G. Pharaon who invest in oil and gas sectors globally.    

Around the world companies in the oil and gas sector are being held accountable to the communities they operate in. They are required by the societies to show their “Corporate Social Responsibility” initiatives. POL also tries to position itself as a community friendly and socially responsible company through its vision, mission and core values statements. However, so far it has ignored the plight of the people living in the vicinity of the pipeline road at adyala road who are directly affected by their operations.

When we look at the pipeline roads around the world, we find that nowhere in the world is the pipelines located in such densely populated areas. Usually, the pipeline Right of Way (ROW) passes through villages or remotely populated areas. In this case, the road is passing right in the middle of the city and the commercial area. Thus measures have to be taken to protect the lives and property of the people living around the area. In this report, I propose that the road be either carpeted or tiled completely especially in the densely populated areas so that the safety of the thousands of families be ensured. In the long run, POL should also look at the option of relocating its pipeline outside the vicinity of Rawalpindi city as the problem identified in this report is going to only grow with the passage of time. The report also calls on the local governments to collaborate with POL in taking actions to improve the security and environment of the pipeline road. The Oil and Gas Regulatory Authority (OGRA) should also take steps to ensure the safety of the communities in which the pipeline operates within the city premises.

 

https://propakistani.pk/2017/09/12/pakistan-oilfields-limited-announces-rs-11-9-billion-profits-year/

 

Pakistan Oilfields Limited Announces Rs 11.9 Billion in Profits This Year

Posted 4 months ago by Jehangir Nasir

 

Pakistan Oilfields Limited (POL) has announced that its consolidated net profit surged 17.62 % to Rs 11.90 billion in this fiscal year. The company had booked Rs 10.12 billion profit in the same period last year.

Consolidated revenue of POL grew by 10% YOY thanks to the higher Arab crude oil prices which increased by 15% YOY and improved hydrocarbon production, after continuously declining for the two years before that. Similarly, POL’s bottom-line has been up by 34 percent, year-on-year in FY 17, that too after falling for the last two years.

Oil sales increased to average 7.1k bpd which was because of addition from Mardan Khel which added around 953 bpd of oil.

Earnings per share (EPS) came in at Rs 50.23 as compared to Rs 42.65 in the corresponding period of the previous year, said a company notification sent to the Pakistan Stock Exchange (PSX) on Monday. The board of directors recommended an interim cash dividend of Rs 25 per share.

Topline Securities said in their report that the earnings came in above market expectations.

The stock price of POL – a state-owned oil and gas exploration company, closed at Rs 464.49 on Monday.

Exploration cost of the company dropped over 28% to Rs 1.4 billion in the fiscal year as opposed to Rs 2 billion in the corresponding period of last year.

Net sales advanced around 10% to Rs 27.89 billion in this fiscal year against Rs 25.55 billion in the same period last year.

The share in profits of associated companies stood at Rs 2.3 billion, which was Rs 2.19 billion in the corresponding period of the previous year.

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