Attock Petroleum to Launch EV Charging at Fuel Stations

Jawad

26 Sep 2024

271

Attock Petroleum to Launch EV Charging at Fuel Stations

Attock Petroleum Limited (APL) is making strides into the electric vehicle (EV) market by establishing EV charging facilities at its retail outlets across Pakistan. In its annual report for the financial year 2023-24, APL highlighted that this strategic move aims to support climate change efforts and promote green business practices by reducing the overall carbon footprint. The company’s initiative to expand the EV charging network aligns with global sustainability trends and responds to the growing demand for electric vehicles in the country.

APL is actively working on increasing its DC Fast Electric Vehicle Charging network, particularly in Motorway service areas, to enhance accessibility for EV users. Additionally, the company plans to introduce OnGrid Solar Systems at its retail outlets and storage terminals as part of its broader sustainability goals. The report revealed that APL has successfully installed EV chargers at prominent locations, including Islamabad Club and Garrison Filling Station. The charging facility at Hassan Petroleum, Blue Area, Islamabad, has also been upgraded to better serve the growing EV market.

In a move to diversify its revenue streams, APL is entering the Liquefied Petroleum Gas (LPG) business. The company expects to commission its LPG storage facility in Rawalpindi by the end of 2024. Additionally, APL is investing heavily in expanding and upgrading its Bulk Oil Storage Terminals nationwide, further strengthening its position in the energy sector. The company remains focused on its core activities of procuring, storing, and marketing petroleum and related products to meet the country's growing energy demands.

At the time of filing, APL’s share price on the stock exchange was Rs. 419.19, reflecting a 1.13 percent increase, or Rs. 4.7, with a total of 1,519 shares traded on Thursday. This rise highlights investor confidence in APL’s ongoing efforts to diversify and expand its business operations while contributing to the future of sustainable energy in Pakistan.

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