What does PARCO mean in COMPANIES & FIRMS
PARCO stands for Pak-Arab Refinery Limited Company. It is a Pakistani oil and gas refining company and subsidiary of Abu Dhabi based Emirati holding company, ADNOC Group. PARCO was established in 1995 as a joint venture between the Government of Pakistan with a 60% stake and ADNOC with 40% stake. The refinery located in Mehmood Kot, Punjab is the largest facility of its kind in the country with an installed capacity of 632,400 barrels per day (bpd). Its products are exported to different countries around the world including Afghanistan, India, Bangladesh, Vietnam and Singapore. The company also has strategic investment partnerships with other companies such as Puma Energy Pakistan Limited (PEPL), MOL Pakistan Oil & Gas Company BV and China National United Oil Corporation (CNUOC).
PARCO meaning in Companies & Firms in Business
PARCO mostly used in an acronym Companies & Firms in Category Business that means Pak-Arab Refinery Limited company
Shorthand: PARCO,
Full Form: Pak-Arab Refinery Limited company
For more information of "Pak-Arab Refinery Limited company", see the section below.
What does PARCO Stand for?
PARCO stands for Pak-Arab Refinery Limited Company – a joint venture between the Government of Pakistan and ADNOC Group. The refinery located in Mehmood Kot, Punjab is the largest oil and gas refining facility in the country with an installed capacity of 632,400 barrels per day (bpd). Products from this facility are exported to different countries around the world including Afghanistan, India, Bangladesh, Vietnam and Singapore. Additionally, PARCO also has strategic investment partnerships with other companies such as Puma Energy Pakistan Limited (PEPL), MOL Pakistan Oil & Gas Company BV and China National United Oil Corporation (CNUOC).
Essential Questions and Answers on Pak-Arab Refinery Limited company in "BUSINESS»FIRMS"
What is PARCO?
PARCO stands for Pak-Arab Refinery Limited company. It is a joint venture between Pakistan and Abu Dhabi providing downstream petroleum products to consumers in Pakistan.
Where is the headquarters of PARCO located?
The headquarters of PARCO are located in Karachi, Pakistan.
Who owns PARCO?
PARCO is owned jointly by the Government of Pakistan and ADNOC (Abu Dhabi National Oil Company).
What services does PARCO provide?
PARCO provides downstream petroleum products such as gasoline, diesel, jet fuel, kerosene and furnace oil. It also provides related services such as storage and transportation solutions for its customers.
How long has PARCO been in operation?
PARCO has been in operation since 1974 when it was established as a joint venture between the governments of Pakistan and Abu Dhabi.
How many employees does PARCO have?
As of 2019,PARCO employs over 3,500 people across its operations in Pakistan.
What are some of the initiatives taken by PARCO to reduce its environmental impact?
In order to reduce its environmental impact,PARCO has undertaken several initiatives including installing Flue Gas Desulphurization plants which have reduced SO2 emissions significantly, setting up oil spill response teams along all coastal ports of operations and committed to using renewable energy sources whenever feasible.
Does PARCO have any presence outside of Pakistan?
Yes,PARCO does have a presence outside of Pakista where they offer bunkering services in the UAE port market as well as investing in refining projects abroad.
Final Words:
PARCO is one of the leading oil and gas producers in Asia that has consistently been at forefront when it comes to new technologies related to oil & gas sector. With high operational standards it has been able to provide reliable services within agreed deliverables to its overseas clients while working towards their sustainability goals. The investments made by PARCO in developing international markets demonstrate their commitment to providing quality products at competitive prices all across nations where it operates. The strategic investment partnerships formed by this company only add to its potential future growth enhancing its position further as one of premier players within market place.