OILBOY ENERGY LIMITED (OBOY)

(FORMERLY DREKKAR KINGSWAY LIMITED)

OIL & GAS MARKETING COMPANIES

Oilboy Energy Limited, is a Pakistan-based integrated energy company. The Company is engaged in the trading of fuel and energy supplying business. It specializes in the trading of coal and related energy resources to the power, steel, cement and other industries in the Middle East. It offers end-to-end solutions in sourcing, shipping and trading coal, lubricant and related commodities in its own fleet. The Company's products include coal, naphtha, furnace fuel oil, liquefied petroleum gas (LPG), spirit, methanol, low sulfur fuel oil (LSFO), jute batching oil (JBO), light diesel oil (LDO), xylene and high-speed diesel (HSD). The Company operates its own supply of approximately 50,000 metric tons (MT) of diesel. It supplies diesel to petrol pumps, industry and power generation plants. The company has already completed the initial necessary tasks that include sales tax registration, operating of bank accounts and registration on PSW to effectuate the trading activities.

Legal status and operations

Oilboy Energy Limited was registered on June 28, 1993, as a private limited company and subsequently converted into public limited company as on June 29, 1994. The primary business of the Company was manufacturing of all types of electrical appliances, cosmetics, toiletries, leather goods, machinery, components and parts. The Company changed its principal line of business from consultancy and advisory services to trading of fuel and energy supplies business. The company is currently engaged in making equity investments in undervalued profitable situations.

VISION STATEMENT

To be innovative, effective and efficient in our field to the benefit of society, we will fairly compete in quality, technology, sales and marketing expertise, while ensuring sound financial and sustainable growth of the Company for the sake of its stakeholders and reputation.

MISSION STATEMENT

We strive to achieve excellence by meeting expectations of stakeholders through efficient, effective and organized management keeping constant high-quality standards.

PSX Data Portal

News

mettisglobal

February 09, 2022 (MLN): The board of directors of Oilboy Energy Limited (OBOY), in its meeting held on February 09, 2022, has decided and approved to resume the operating/trading activities of “Energy Products” mainly coal from February 10, 2022, the company informed through a notice to PSX.

The company has already completed the initial necessary tasks that include sales tax registration, operating of bank accounts and registration on Pakistan Single Window (PSW) to effectuate the trading activities.

With this resumption of trading activities, the company will rectify the defaulter reasons (under Regulation 5.11.1 (b) and (i)) in the process to arrange the updated “auditors’ opinion” in this regard.

It is prudent to highlight that Modaraba Al-Mali (MODAM) is targeting to complete the revival of Oilboy Energy Limited by the end of April 30, 2022, under the “Revival Business Plan” wherein the financial impact of this transaction will be around Rs100 million.

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