(EnergyAsia, October 28 2010, Wednesday) — The Pakistan State Oil (PSO) said it is acquiring Pakistan Refinery Limited (PRL) as part of the government’s plan to consolidate fuel distribution operations in the country. The acquisition is expected to be completed by early 2011.

The country’s largest oil marketing company with a market share of 71% is also looking to expand its fuel storage capacity and retail network. It now owns and operates oil storage tanks with a total capacity of one million tons of oil, or about 80% of the country’s total.

PSA will add 30 retail outlets to its network of 3,500 filling stations in the fiscal year ending June 2011.

PSO is also starting up a power plant, selling lubricants and looking into developing storage facilities for storing liquefied petroleum gas (LPG).