Aviation Fuel Business
HASCOL has taken another leap and entered into the Aviation business in Pakistan as a Joint venture with one of the world’s largest conglomerate VITOL BV Netherland by signing an Aviation services agreement in Karachi, Pakistan.
State of the art JET fuel storages are under construction across Pakistan expected to be commissioned by May 2017 to facilitate the airline customers.
According to the agreement ,Vitol Aviation B.V. Netherlands will provide core and technical support services to the Company to cater to the demand of jet fuels by the aviation industry in Pakistan at selected air fields.
Hascol Petroleum has a joint venture with Vitol Dubai (a subsidiary of Vitol Aviation B.V) for developing and operating a 200,000 metric ton oil storage/terminal facility at Port Qasim Authority while Vitol had bought a 25 percent stake in Hascol for $28.1 million.
Vitol Aviation is a leading provider of jet fuel worldwide as it supplies 5.7 million tonnes of jet fuel annually into wing, at over 60 airports across the four continents.
In Europe, North America and Africa, Vitol handles over 13 million tonnes of jet fuel each year. The company supplies to the industry’s leading brands, from oil majors and national oil companies to the world’s largest airlines.