Pakistan State Oil Company Limited (PSO) has signed a Sale Purchase Agreement (SPA) with OQ Trading Limited (OQT) for the supply of petroleum products, marking a key development under the existing intergovernmental cooperation between Pakistan and Oman.
According to a disclosure submitted to the Pakistan Stock Exchange (PSX) on October 9, 2026, the agreement was signed on October 8, 2026, following formal approval from PSO’s Board of Management and the Federal Cabinet.
The agreement originates from an Inter-Governmental Agreement (IGA) signed between the Islamic Republic of Pakistan and the Sultanate of Oman on May 14, 2018. Under this arrangement, OQ Trading Limited, formerly known as Oman Trading International Limited, was nominated on behalf of the Sultanate of Oman, while PSO was nominated to represent the Government of Pakistan.
Following the intergovernmental arrangement, PSO engaged with OQ Trading to finalize the terms of the Sale Purchase Agreement for petroleum product supplies. The signing of the agreement represents the completion of the formal approval process and establishes a contractual framework between the two companies.
PSO disclosed the development in accordance with Section 96 of the Securities Act, 2015, and Clause 5.6.1(a) of the PSX Regulations. The company also requested the exchange to inform the holders of Trading Right Entitlement Certificates (TRE Certificates) about the material information.
The agreement highlights continued energy-sector cooperation between Pakistan and Oman. However, the disclosure did not specify the contract value, supply volumes, duration, pricing terms, or the expected financial impact on PSO.
Market participants may monitor further disclosures for additional details about the agreement and its potential implications for the company’s petroleum procurement operations.
