F.P. Report
KARACHI: Over the last several years, the Oil & Gas Regulatory Authority (OGRA) Pakistan, with the support of the Ministry of Energy, has started issuing licenses to new oil marketing companies, subject to their development of storage and distribution infrastructure in the country. The Policy has started yielding successful results in the form of tremendous local and foreign investment in the Oil Industry.
Al Noor Petroleum Pvt. Ltd.’s brand ‘N3’ is one such example, licensed in 2016 as a result of this Policy, with direct equity investment from local and foreign based investors. Its parent groups are Al Rahim Group of Companies and the ALSAA Group UAE. Its group company is the largest private equity petroleum and chemical terminal operator in Pakistan, with its own storage capacity of 220,000 tons in Kemari alone, and is engaged in petroleum trading, import, export, shipping and storage facilities of petroleum products and the petrochemicals business in Pakistan and the Middle East.
They have a history of over 25 years linked with the storage, import and export of petroleum products. Their service to significant industries in an era of limited strategic storages is well documented. It is also engaged in the business of LPG and is developing its own LPG storage facility, including a bottling plant in Pakistan.
Al Noor Petroleum, N3, has an aggressive growth and development plan for Pakistan. The Company started the simultaneous indigenous development of 5 depots and terminals across the country and has an aggressive plan for setting up retail service stations (petrol pumps) under its N3 umbrella.
Development activity is good for tertiary and support industries and generates greater direct employment; the greatest benefit is transferred to the consumer, as the presence of companies like N3 offers customers a greater choice of products and services as well as better locations. N3 is committed to offering the highest quality of petrol, diesel, lubricants and ancillary products and services. Planned sites will look like the modern station that was launched Tuesday, i.e. state-of-the-art sites exceeding international standards.
