KARACHI: Air Commodore Ibrahim Asad and Mirza Shakil Baig, MD of Al-Noor Petroleum, inaugurated a new filling station at Pakistan Air Force (PAF) Base, Korangi Creek, adjacent to Airmen Golf Club Entrance in Karachi on Saturday.
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 of 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’s brand ‘N3’ is one such example, licensed in 2016 as a result of this policy, with a 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 the 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 the 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.
