Contents

Notice of the Meeting 02

Company Information 03

Directors» Report 04

Auditors» Reports to the Members 05

Balance Sheet 06

Income and Expenditure Account 07

Cash Flow Statement 08

Notes to the Financial Statements 09

Industrial Collective Members 17

Individual Members 19

Form of Proxy Notice of the Meeting

To – All members

Notice is hereby given that the 51st Annual General Meeting of the Petroleum Institute of will be held at the Ambassador 3, Karachi Marriott Hotel, 9 Abdullah Haroon Road, Karachi on December 18, 2014 at 1600 hours to transact the following business:

1. To confirm the minutes of the 50th Annual General Meeting held on December 19, 2013.

2. To receive and adopt Report of Directors and Auditors together with audited financial statement of the Institute for the year ended June 30, 2014.

3. To appoint Auditors of the company and to fix their remuneration for the year 2014-2015.

4. To transact any other ordinary business of the Institute.

By Order of the Board

S. Nazeer Iqbal Company Secretary

Karachi November 26, 2014

Note:

1. The members entitled to attend and vote at the above meeting may appoint a member as proxy to attend and vote in place of the member at the meeting.

Proxies in order to be effective must be received at the Company»s Registered Office not later than 1600 hours on December 16, 2014.

2. Members are requested to notify the company of any change in their addresses.

02 51st Annual Report 2014 Company Information

Board of Directors

Dr. Asim Hussain Chairman Mr. M. Aslam Sanjrani Chief Executive Officer Mr. Tariq Khamisani Mr. M. Arif Hameed Mr. Aftab Husain Mr. Omar Yaqoob Sheikh Mr. S. Tariq Rizavi Mr. Sh. Imran-ul-Haque Mr. Hassan Sobuctageen Mr. Mobin Saulat Mr. M. Adil Khattak Mr. Janjua Mr. Shoaib Warsi

Honorary Treasurer: Mr. Abdul Malik

Company Secretary: Mr. S. Nazeer Iqbal

Auditors: A.F. Ferguson & Co. Chartered Accountants State Life Building No. 1-C I.I. Chundrigar Road, Karachi

Registered Office: 1st Floor, Federation House ST. 28, Block V, Kehkashan Clifton, Karachi. Tel: 021-35378701-02 Fax: 021-35378704 E-mail: [email protected] Website: www.pip.org.pk

51st Annual Report 2014 03 Directors» Report

The Directors have pleasure in presenting the 51st Annual Report of the Institute together with the audited financial statements of the Institute and the Auditors’ Report thereon for the year ended June 30, 2014

Financial Result Rupees

The surplus for the year, after providing for all operational, and administrative expenses amounted to 1,150,715

LESS: Taxation

Current tax -for the year 79,216 -for prior years 930,525 Deferred tax 76,376 1,086,117

Total Surplus / (Deficit) for the year 64,597 ADD: Balance to surplus account brought forward from previous years 25,832,352

Surplus for the year as at June 30, 2014 25,896,949

Auditors

The present Auditors, Messrs A.F.Ferguson & Co., retire and , being eligible, offer themselves for re-appointment.

On behalf of the Board

Dr. Asim Hussain Chairman

04 51st Annual Report 2014 Auditors» Report to the members

We have audited the annexed balance sheet of Petroleum Institute of Pakistan as at June 30, 2014 and the related income and expenditure account and cash flow statement together with the notes forming part thereof, for the year then ended and we state that we have obtained all the information and explanations which, to the best of our knowledge and belief, were necessary for the purposes of our audit.

It is the responsibility of the Company’s management to establish and maintain a system of internal control, and prepare and present the above said statements in conformity with the approved accounting standards and the requirements of the Companies Ordinance, 1984. Our responsibility is to express an opinion on these statements based on our audit.

We conducted our audit in accordance with the auditing standards as applicable in Pakistan. These standards require that we plan and perform the audit to obtain reasonable assurance about whether the above said statements are free of any material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the above said statements. An audit also includes assessing the accounting policies and significant estimates made by management, as well as, evaluating the overall presentation of the above said statements. We believe that our audit provides a reasonable basis for our opinion and, after due verification, we report that:

(a) in our opinion, proper books of accounts have been kept by the Company as required by the Companies Ordinance, 1984;

(b) in our opinion:

(i) the balance sheet and income and expenditure account together with the notes thereon have been drawn up in conformity with the Companies Ordinance, 1984, and are in agreement with the books of accounts and are further in accordance with accounting policies consistently applied;

(ii) the expenditure incurred during the year was for the purpose of the Company’s business; and

(iii) the business conducted, investments made and the expenditure incurred during the year were in accordance with the objects of the Company;

(c) in our opinion and to the best of our information and according to the explanations given to us, the balance sheet, income and expenditure account and cash flow statement together with the notes forming part there of conform with the approved accounting standards as applicable in Pakistan, and, give the information required by the Companies Ordinance, 1984, in the manner so required, and respectively give a true and fair view of the state of the Company’s affairs as at June 30, 2013 and of the surplus and its cash flows for the year then ended; and

(d) in our opinion no zakat was deductible at source under the Zakat and Ushr Ordinance, 1980 (XVIII of 1980).

A. F. Ferguson & Co. Chartered Accountants Karachi Date: 24 November 2014

Engagement Partner: Waqas A. Sheikh

51st Annual Report 2014 05 Balance Sheet As at June 30, 2014

Note 2014 2013 Rupees Rupees

ASSETS

Non-Current Assets Property, plant and equipment 3 1,112,725 1,257,005 Deferred taxation 4 10,304 86,680 1,123,029 1,343,685

Current Assets Short term investments 5 23,302,676 23,049,444 Subscriptions receivable 762,000 1,379,000 Deposits, prepayments and other receivables 6 2,463,817 548,810 Taxes recoverable 2,490,786 2,435,172 Cash and bank balances 7 3,472,771 2,166,196 32,492,050 29,578,622 33,615,078 30,922,307

SURPLUS ACCOUNT

Balance at beginning of the year 25,832,352 20,138,384 Surplus for the year 64,597 5,693,968 25,896,949 25,832,352 LIABILITIES

Non-Current Liabilities Staff retirement gratuity 8 1,544,697 740,592

Current Liabilities Trade and other payables 9 6,173,432 4,349,363

Contingencies and Commitments - -

33,615,078 30,922,307

The annexed notes 1 to 19 form an integral part of these financial statements.

M. Aslam Sanjrani Aftab Husain Chief Executive Officer Director

06 51st Annual Report 2014 Income and Expenditure Account For The Year Ended June 30, 2014

Note 2014 2013 Rupees Rupees

Income from - Subscriptions 10 17,769,945 16,458,060 - Short term investments 11 2,053,232 1,498,321 - Seminars and Executive Learning Centre (net) 12 72,110 2,416,329 - Sale of Pakistan Energy Outlook booklet 90,000 137,000 - Sponsorship of PIP Supplement (net) - 700,550 - Savings bank account 136,376 - - Other income 13 30,000 293,857 20,151,663 21,504,117

Less: Expenditure

Subscriptions 1,078,448 987,666 Salaries and allowances 14 8,952,974 7,968,924 Pakistan Energy Outlook updation - 1,767,600 Provision for staff retirement gratuity - net 804,105 (203,150) Medical 312,047 130,871 Travelling and conveyance 2,126,611 820,934 Rent and electricity 2,384,934 1,325,654 Printing and stationery 449,443 155,375 Repairs and maintenance 481,662 344,585 Postage and telephone 463,658 316,106 Promotional and website maintenance 174,401 78,058 Insurance 70,439 63,131 Depreciation 3 560,898 510,101 Auditors’ remuneration - Audit fee 88,000 88,000 - Special/Other engagements 45,800 - - Tax consultancy fee 352,101 146,521 485,901 234,521 Legal and professional 92,813 168,218 Receivables written-off 15 50,000 459,227 Meeting expenses 192,178 330,347 Entertainment 123,668 147,212 Miscellaneous 196,768 181,067 19,000,948 15,786,447 Surplus before taxation 1,150,715 5,717,670

Taxation 16 (1,086,117) (23,702)

Surplus for the year transferred to Surplus Account 64,597 5,693,968

The annexed notes 1 to 19 form an integral part of these financial statements.

M. Aslam Sanjrani Aftab Husain Chief Executive Officer Director

51st Annual Report 2014 07 Cash Flow Statement For The Year Ended June 30, 2014 Note 2014 2013 Rupees Rupees

Cash flow from operating activities

Cash generated from operations 17 988,548 8,210,167 Gratuity paid - (191,494) Taxes paid (1,065,355) (986,728) Net cash (utilized in) / generated from operating activites (76,807) 7,031,945

Cash flow from investing activities

Purchase of property, plant and equipment (416,618) (142,000) Proceeds from disposal of property, plant and equipment - 21,294 Investments made during the year (3,000,000) (23,000,000) Investments encashed during the year 3,000,000 15,000,000 Income received on investments 1,800,000 1,800,986 Net cash generated from (utilized in) / investing activities 1,383,382 (6,319,720) Net increase in cash and cash equivalents 1,306,575 712,225

Cash and cash equivalents at beginning of the year 2,166,196 1,453,971

Cash and cash equivalents at end of the year 7 3,472,771 2,166,196

The annexed notes 1 to 19 form an integral part of these financial statements.

M. Aslam Sanjrani Aftab Husain Chief Executive Officer Director

08 51st Annual Report 2014 Notes To The Financial Statements For The Year Ended June 30, 2014

1. LEGAL STATUS AND OPERATIONS

Petroleum Institute of Pakistan (the Institute) was established in 1963, as a company limited by guarantee, for the purposes of promoting and coordinating the activities of oil and gas companies in Pakistan. The address of its registered office is 1st Floor, Federation House, St. 28, Block V, Kehkashan, Clifton, Karachi. The affairs of the Institute are managed by a Board of Directors representing companies operating in the oil and gas sector.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the periods presented, unless otherwise stated.

2.1 Basis of preparation

2.1.1 These financial statements have been prepared under the historical cost convention except for re-measurement of certain investments at fair value or at amortized cost and certain staff retirement benefits at present value.

2.1.2 The financial statements for the year ended June 30, 2013 were prepared in accordance with the requirements of the Companies Ordinance, 1984 (the Ordinance) and the Accounting and Financial Reporting Standards for Small – Sized Entities (SSEs) issued by the Institute of Chartered Accountants of Pakistan and as notified by the Securities and Exchange Commission of Pakistan (SECP). The requirements of the Ordinance and the directives issued by the SECP were followed in case where their requirements were not consistent with the requirements of SSEs.

Consequent to the Accumulated Surplus / Equity being in excess of Rs. 25 million, the Institute does not meet the definition of a Small Sized Entity (SSE) as per the Ordinance. Accordingly, the current year’s financial statements have been prepared in accordance with Accounting and Financial Reporting Standards for Medium – Sized Entities (MSEs) issued by the Institute of Chartered Accountants of Pakistan and provisions of and directives issued under the Ordinance. The requirements of the Ordinance and the directives issued by the SECP were followed in case where their requirements were not consistent with the requirements of MSEs.

2.1.3 The preparation of financial statements in conformity with the above requirements requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the company’s accounting policies. Estimates and judgments used in the preparation of financial statements are continually evaluated by the company and are based on historical experience and other factors, including expectations of the future events that are believed to be reasonable under the circumstances. The resulting accounting estimates / assumptions / judgments will, by definition, seldom equal the related actual results. The matter involving a higher degree of judgments or complexity or areas where estimates, assumptions and judgments are significant to the financial statements are set out below:

- Residual values and useful lives of property, plant and equipment (note 2.2) - Taxation (note 2.5) - Provision for staff retirement gratuity (note 2.7)

2.2 Property, plant and equipment

These are stated at cost less accumulated depreciation. Depreciation is charged to income by applying the straight line method whereby the cost of an asset is written off over its estimated useful life. Depreciation is charged from the month the assets are available for use in service till the month they are disposed off or fully

51st Annual Report 2014 09 depreciated. The residual values, useful lives and depreciation method are reviewed and adjusted, if appropriate, at each balance sheet date. An assets’ carrying amount is written down immediately to its recoverable amount if its carrying amount is greater than the estimated recoverable amount.

Maintenance and normal repairs are charged to income as and when incurred.

Gains and losses on disposal or retirement of an asset represented by difference between the sale proceeds and the carrying amount of the asset is recognized as an income or expense.

2.3 Investments

The Institute classifies its investments in the following categories: at fair value through profit or loss and held to maturity. The classification depends on the purpose for which the investments were acquired. Management determines the classification of its investments at initial recognition.

a) Held to maturity These are investments with fixed or determinable payments and fixed maturity for which the management has positive intent and ability to hold till maturity.

All investments are initially recognized at cost, being the fair value of the consideration given including acquisition charges associated with the investment.

Subsequent to initial recognition, these investments are measured at amortized cost, less provision for impairment, using the effective interest rate method. Amortized cost is calculated by taking into account any discount or premium on acquisition. Any gain or loss is recognized in income when the investment is derecognized or impaired.

Investments are classified as current assets where the maturity of investment is within twelve months from the balance sheet date. Otherwise investments are classified as long term assets.

b) At fair value through profit or loss These are investments which are held for trading. Investment is classified in this category if acquired principally for the purpose of selling in the short-term. Assets in this category are classified as current asset.

Gain or losses arising from changes in fair value of the ‘investments at fair value through profit or loss’ category are presented in the income and expenditure account within ‘income from short term investments’ in the period in which they arise.

2.4 Receivables

Receivables are stated initially at original invoice amount, being the fair value, and are subsequently measured at amortized cost using the effective interest rate method, as reduced by provision for receivables considered to be doubtful. A provision is established when there is objective evidence that the Institute will not be able to collect all amounts due according to the original terms of receivables. Receivables considered irrecoverable are written off.

2.5 Taxation

2.5.1 Current

Provision for current taxation is based on the taxable income for the year, determined in accordance with the prevailing law for taxation on income, using prevailing tax rates. The charge for current tax also includes tax

10 51st Annual Report 2014 credits and adjustments, where considered necessary, for prior years determined during the year or otherwise considered necessary for such years.

2.5.2 Deferred

Deferred income tax is provided using the liability method on all temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. Deferred tax liabilities are generally recognized for all taxable temporary differences and deferred tax assets are recognized to the extent that it is probable that taxable profits will be available against which the deductible temporary differences, unused tax losses and tax credits can be utilized.

Deferred income tax is determined using tax rates that have been enacted or substantially enacted by the balance sheet date and are expected to apply when the related deferred income tax asset is realized or the deferred income tax liability is settled. Deferred tax is charged or credited in the income and expenditure account.

2.6 Cash and cash equivalents

For the purpose of the cash flow statement, cash and cash equivalents comprise cash in hand and balance with banks.

2.7 Staff retirement gratuity

The Institute operates an unfunded staff retirement gratuity scheme covering all its employees. Provision is made annually to cover obligations under the scheme on the assumption that all the employees will complete the minimum qualifying period of service.

2.8 Trade and other payables

These are stated initially at cost which is the fair value of the consideration to be paid in future for goods and services received, whether or not billed to the Institute and are subsequently measured at amortized cost using the effective interest rate method.

2.9 Provisions

Provisions are recognized when the Institute has a present legal or constructive obligation as a result of a past event, and it is probable that outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of obligation. The amount recognized is the best estimate of the expenditure required to settle the obligation on the balance sheet date. Provisions are reviewed annually and adjusted to reflect current best estimate.

2.10 Foreign currency transactions and translation

These financial statements are presented in Pakistan Rupees, which is the Institute’s functional currency. Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in income and expenditure account.

2.11 Offsetting of financial assets and liabilities

A financial asset and a financial liability are offset and the net amount is reported in the balance sheet if the Institute has a legally enforceable right to set-off the recognized amounts and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously.

51st Annual Report 2014 11 2.12 Income

- Subscriptions from members, sponsorship fee and registration fee for conferences and seminars held by the Institute and income from advertisement are recognized when due. - Profit on investments is recognized using the effective interest method. - Profit on savings bank account is recognized on accrual basis.

3. PROPERTY, PLANT AND EQUIPMENT The following is a statement of property, plant and equipment:

Furniture, Library Computers Motor Total fixtures and Book and ancillary Vehicles equipment equipment ————————————–(Rupees)—————————————- At July 1, 2012

Cost 704,619 17,715 1,105,552 1,554,285 3,382,171 Accumulated depreciation (535,567) (17,715) (735,201) (453,335) (1,741,818) Net book value 169,052 - 370,351 1,100,950 1,640,353

Year ended June 30, 2013

Opening net book value 169,052 - 370,351 1,100,950 1,640,353 Additions - - 55,000 87,000 142,000 Disposal Cost - - 49,900 52,990 102,890 Accumulated depreciation - - (34,653) (52,990) (87,643) - - 15,247 - 15,247 Depreciation charge (50,035) - (155,457) (304,609) (510,101) Closing net book value 119,017 - 254,647 883,341 1,257,005

At July 1, 2013

Cost 704,619 17,715 1,110,652 1,588,295 3,421,281 Accumulated depreciation (585,602) (17,715) (856,005) (704,954) (2,164,276) Net book value 119,017 - 254,647 883,341 1,257,005

Year ended June 30, 2014

Opening net book value 119,017 - 254,647 883,341 1,257,005 Additions 132,708 - 283,910 - 416,618 Depreciation charge (64,180) - (179,059) (317,659) (560,898) Closing net book value 187,545 - 359,498 565,682 1,112,725

At June 30, 2014

Cost 837,327 17,715 1,394,562 1,588,295 3,837,899 Accumulated depreciation (649,782) (17,715) (1,035,064) (1,022,613) (2,725,174) Net book value 187,545 - 359,498 565,682 1,112,725

% Annual rate of depreciation 20 - 33.33 20

12 51st Annual Report 2014 2014 2013 Rupees Rupees

4. DEFERRED TAXATION

Debit balance arising in respect of - provision for gratuity 10,195 84,795 - accelerated accounting depreciation 109 1,885 10,304 86,680

5. SHORT TERM INVESTMENTS - Fair value through profit or loss

Mutual Fund Securities (note 5.1) 23,302,676 23,049,444

5.1 Represents investments in open end mutual funds valued at their respective net assets value at balance sheet date. 2014 2013 Rupees Rupees 6. DEPOSITS, PREPAYMENTS AND OTHER RECEIVABLES - Considered good

Security deposit 75,000 - Prepayments 1,072,825 385,342 Receivable from employees 54,648 - Receivable from the Chief Executive 30,711 - Accrued profit on savings bank account 30,633 - Other receivables (note 6.1) 1,200,000 163,468 2,463,817 548,810

6.1 Represents receivable from Industrial Collective Members (ICM) in respect of following special contributions:

2014 2013 Rupees Rupees

Deficit for the financial year 2008 and 2009 - 83,468 Contribution receivable from ICMs for 21st World Petroleum Conference Stall 1,200,000 - Others - 80,000 1,200,000 163,468

51st Annual Report 2014 13 2014 2013 Rupees Rupees

7. CASH AND BANK BALANCES

Cash in hand 17 15 Balance with banks on: - current account 486,304 709,717 - savings account 2,986,450 1,456,464 3,472,754 2,166,181 3,472,771 2,166,196

8. STAFF RETIREMENT GRATUITY

Balance at beginning of the year 740,592 1,135,236 Add: Charge for the year - net 804,105 (203,150) Less: Benefits paid during the year - (191,494) Balance at end of the year 1,544,697 740,592

9. TRADE AND OTHER PAYABLES

Advances against subscriptions 5,272,000 17,000 Accrued liabilities 477,039 1,198,349 Other payables 424,393 3,134,014 6,173,432 4,349,363

10. INCOME FROM SUBSCRIPTIONS

Industrial collective members 15,788,000 15,000,000 Individual members 1,981,945 1,458,060 17,769,945 16,458,060

11. INCOME FROM SHORT TERM INVESTMENTS

Profit on Term Deposit Receipts - 1,448,877 Gain on disposal of investments - Mutual Fund units 1,800,000 - Unrealized gain on remeasurement of - investments at fair value 253,232 49,444 2,053,232 1,498,321

12. SEMINARS AND EXECUTIVE LEARNING CENTRE

Income from Seminars and Executive Learning Centre (ELC) 600,040 4,946,250 Less: Expenses incurred on Seminars and ELC 527,930 2,529,921 72,110 2,416,329 14 51st Annual Report 2014 2014 2013 13. OTHER INCOME Rupees Rupees

Old liabilities written back - 215,125 Gain on disposal of property, plant and equipment - 6,048 Exchange gain - 47,963 Others 30,000 24,721 30,000 293,857

14. SALARIES AND ALLOWANCES

Salaries and allowance includes an aggregate amount of Rs. 3,451,816 (2013: Rs. 4,970,262) for the remuneration to the Chief Executive of the Institute, which includes Rs. 751,816 in respect of remuneration to acting Chief Executive, who held this office for the period July 1, 2013 to October 31, 2013.

2014 2013

Rupees Rupees 15. RECEIVABLES WRITTEN-OFF

Individual member subscription 50,000 60,500 Contributions from Industrial Collective Members - 398,727 50,000 459,227

16. TAXATION

Current tax - for the year 79,216 98,546 - for prior years 930,525 - Deferred tax 76,376 (74,844) 1,086,117 23,702

51st Annual Report 2014 15 2014 2013 Rupees Rupees

17. CASH GENERATED FROM OPERATIONS

Surplus before taxation 1,150,715 5,717,670

Adjustment for non cash charges and other items: Provision / (Reversal) for staff retirement gratuity 804,105 (203,150) Depreciation 560,898 510,101 Receivables written-off 50,000 459,227 Income from investments (2,053,232) (1,498,321) Gain on disposal of property, plant and equipment - (6,048) Old liabilities written back - (215,125) Working capital changes - note 17.1 476,062 3,445,813 988,548 8,210,167

17.1 Working capital changes

(Increase) / Decrease in current assets: Subscriptions receivable 567,000 (923,000) Deposits, prepayments and other receivables (1,915,007) 2,533,815 Increase in current liabilities: Trade and other payables 1,824,069 1,834,998 476,062 3,445,813

18. TRANSACTIONS WITH RELATED PARTIES

Details of transactions with related parties during the year have been disclosed in respective notes to the financial statements.

19. DATE OF AUTHORIZATION

The financial statements were approved and authorized for issue by the Board of Directors of the Institute on 14-11-2014.

M. Aslam Sanjrani Aftab Husain Chief Executive Officer Director

16 51st Annual Report 2014 Industrial Collective Members – 2014-2015

1 Asia Petroleum Ltd 7 Fauji Oil Terminal and Distribution Co. Limited 14th Floor, The Harbor Front, HC-3, Dolmen City PQA, Port Bin Qasim Block 4, Scheme - 5, Clifton Karachi Karachi. Tel : (021) 34720003-5 UAN: 111 275 111 Fax : (021) 34720010 Tel : (021) 35294034-7 Fax : (021) 35294040 8 Government Holdings (Pvt) Ltd H. No. 17, Street No. 89 2 Attock Refinery Ltd G-6/3 Refinery P.O. Morgah Islamabad Rawalpindi Tel : (051) 9211236-7, 9211239-40 Tel : (051) 5487091, 5487041 Fax: (051) 9213972, 9211249 Fax : (051) 5487093 9 Inter State Gas Systems (Pvt) Limited 3 BHP Petroleum (Pakistan) Pty Ltd 517, Main Margalla Road, F-10/2 42, Khayaban-e-Iqbal, F-7/2 Islamabad Islamabad. Tel : (051) 926 7672-74 UAN : 111 247 725 Fax : (051) 926 7671 Tel : (051) 265 1365 Fax : (051) 265 1705 10 Khyber Pakhtunkhwa Oil & Gas Co. Limited H # 492, Street 13, Sector E-4, Hayatabad 4 Chevron Pakistan Limited Peshawar 1st Floor, State Life Building No. 11 Tel : (091) 5615142, 5615144-45 Abdullah Haroon Road Fax: (091) 5615149 Karachi Tel : (021) 3568 1371 11 Mari Petroleum Company Limited Fax : (021) 3568 5014 21, Mauve Area, 3rd Road, G-10/4 Fax : (021) 35610634, 35610966 Islamabad UAN :(051) 111-410-410 5 ENGRO VOPAK TERMINAL LIMITED Fax : (051) 229 7686 16th Floor, The Harbor Front Building, HC-3, Marine Drive Block 4, Clifton 12 MOL Pakistan Oil and Gas Co. B.V. Karachi Plot No: 5-A, Crown Plaza, F-7 Markaz UAN : 111-311-311 Islamabad Tel : (021) 35293901-3 UAN : 111-665-725 Fax: (021) 35293906 Fax : (051) 2655 827

6 Eni Pakistan Ltd 13 National Refinery Ltd The Forum, 5th Floor 7-B, Korangi Industrial Area G-20, Block 9, Khayaban-e-Jami, Clifton Karachi Karachi Tel : (021) 35064977-79 Tel : (021) 3587 9951 Fax: (021) 35054663 Fax : (021) 3583 8394-95

18 51st Annual Report 2014 17 14 Oil & Gas Development Co. Ltd OGDC House 21 Pakistan State Oil Co. Ltd Plot No. 3, Jinnah Avenue, Blue Area PSO House Islamabad Khayaban-e-Iqbal, Clifton Tel : (051) 920 9811-18 Karachi Fax : (051) 920 9764 Tel : (021) 9920 3866-95 Fax : (021) 9920 3835 15 OMV (Pakistan) Exploration GmbH Islamabad Stock Exchange Building 22 Shell Pakistan Ltd Floor 15, 55-B, Jinnah Avenue, Blue Area Shell House Islamabad 6 Ch. Khaliquzzaman Road UAN : 111-668-668 Karachi. Tel: (051) 208 9213 UAN : 111-888-222 Fax: (051) 2894870-1 Tel : (021) 3568 9525

16 Pak-Arab Pipeline Co. Ltd 23 Sui Northern Gas Pipelines Ltd C/o. Pak-Arab Refinery Ltd Gas House Corporate Headquarters 21, Kashmir Road Korangi Creek Road, Korangi . Karachi. Tel : (042) 99082000, 99082006 Tel : (021) 3509 0100-125 Fax : (042) 9920 1302 Fax : (021) 3509 0625

17 Pak-Arab Refinery Ltd 24 SSGC LPG (Private) Limited Corporate Headquarters 301-4, 3rd Floor, Clifton Diamond Building Korangi Creek Road, Korangi Plot BC 10, Block 4, Clifton Karachi. Karachi Tel : (021) 3509 0100-125 Tel : (021)35291022-28 Fax : (021) 3509 0929 Fax: (021)35290906

18 Parco Pearl Gas (Private) Limited 25 Sui Southern Gas Co. Ltd House No. 52, Margalla Road St. 4/B, Block 14, Gulshan-e-Iqbal Sector F-8/2 Sir Shah Suleman Road Islamabad Karachi UAN : 111 798 798 Tel : (021) 99021000 Fax : (051) 2852712-3 Fax : (021) 99021550

19 Pakistan Petroleum Ltd 26 TOTAL PARCO PAKISTAN LTD PIDC House, 4th Floor 11/1, Block - B, Model Town Dr. Ziauddin Ahmed Road Lahore Karachi Tel : 111-709-709 UAN : 111 568 568 Fax : (042) 587 3337 Tel : (021) 3565 1480-98 Fax : (021) 3568 0005 27 United Energy Pakistan Limited 4th Floor, Bahria Complex - 1 20 Pakistan Refinery Ltd 24, M.T. Khan Road Korangi Creek Road, Korangi Karachi Karachi Tel : (021) 35611194-96 Tel : (021) 3509 1771-79 Fax: (021) 35610634, 35610966 Fax : (021) 3506 0145

18 51st Annual Report 2014 Individual Members – 2014 - 2015

ASIA PETROLEUM LIMITED 26. Mr. Iftikhar Yousaf 27. Mr. Zulfiqar Ali Khurram 1. Mr. Yacoob Suttar 28. Mr. Saifur Rehman Mirza 2. Mr. Nadeem A. Qureshi 29. Mr. Usman Ishaq Raja 3. Ms. Gulzar Khoja 30. Mr. Muhammad Tahir Hussain 4. Mr. Kamran Anwar 31. Mr. Ayaz Khan 5. Ms. Clarita I. Ahmed 32. Mr. Kamaluddin 6. Mr. Ajmal Ilyas Nagaria 33. Mr. Nasir Memon 7. Mr. Zeeshan Adeel 34. Mr. Saqib Rauf 8. Mr. Munir Budhwani 35. Mr. Anjum Naveed 9. Mr. Usman Arif Khan 36. Mr. Salman Ahmad Sheikh 10. Mr. Shakil Ahmed 37. Mr. Asif Munir Khan 11. Mr. Adnan H. Siddiqui 38. Mr. Jahanzeb Abbas 12. Mr. Saif Ahmed 39. Mr. Khurram Waheed 13. Mr. Muhammad Hanif 40. Mr. Hassan Ahmed 14. Mr. Muhammad Asif Ansari 15. Mr. Imran Waseem BHP PETROLEUM (PAKISTAN) PTY LIMITED 16. Mr. Adeel Ahmed 1. Mr. Mehdi Sibtain ATTOCK REfiNERY LIMITED 2. Mr. Akbar Ali Khan 3. Mr. Asghar Hayat Khan 1. Mr. M. Adil Khattak 4. Mr. Farid Intisar 2. Mr. Mansoor Shafique 5. Mr. Atif Janjua 3. Mr. Ejaz H.Randhawa 6. Mr. Adnan Javed 4. Mr. Malik Masood Sadiq 7. Mr. Robert Knights 5. Syed Asad Abbas 8. Ms. Humera Malik 6. Mr. Khurram Jalil 9. Mr. Abid Husain 7. Mr. Asif Saeed 10. Mr. Naveed Alam 8. Mr. Salman Tariq 11. Mr. Waseem Siddiqui 9. Mr. Munir Azam Temuri 12. Mr. Mushtaq Abbasi 10. Mr. Nayyer Ahmad 13. Mr. Geoff Watson 11. Mr. Muhammad Irshad Ramay 14. Mr. Abdul Haq 12. Mr. Khalid Mahmood 13. Mr. Arshad Hayee Khan CHEVRON PAKISTAN LTD 14. Mr. Mohammad Aliemuddin 15. Raja Nadeem Khalid 1. Mr. Nadeem Jafarey 16. Mr. Muhammad Habib Anwar 2. Mr. Mohammad Zubair 17. Mr. Muhammad Zia ul Haq Mirza 3. Mr. Faisal Abid 18. Mr. Sardar Lal Khan 4. Mr. Kashif Latif 19. Mr. Saeed Uddin Ahmed Faruqi 5. Mr. Ali Akbar Khalil 20. Mr. Muhammad Anwar 6. Mr. Adeel Minhaj 21. Mr. Anwer Saeed 7. Mr. Shamveel Ahmed 22. Mr. Naveed Ahmad 8. Ms. Nuzhat Hussain 23. Mr. Sohail Gulzar 9. Mr. Amiz Haroon Katia 24. Mr, Arshad Nazir 10. Mr. Aamer Ali 25. Mr. Usman Ali Khan

51st Annual Report 2014 19 11. Mr. Aamir Malik 4. Mr. Giovanni Botto 12. Mr. Imran Zia 5. Mr. Farooq Rafi 13. Ms. Humaira Nadeem 6. Mr. Ali Hamdani 14. Mr. Ausaf A. Kidwai 7. Mr. Nasir Ahmed 15. Mr. Abdul Basit 8. Mr. Gianni Delle Foglie 16. Mr. Ahmed Waseem Qadri 9. Mr. Saleem Taj 17. Mr. Usman Aziz Bilgrami 10. Mr. Irfan Zulfiquar 18. Mr. M. Azam Siddiqui 11. Mr. Murad Khan 19. Mr. Naveed Asghar 12. Mr. Amjad Wahab 20. Mr. Jawed Tanwir Abbasi 13. Mr. Achille Tiribelli 21. Mr. S. A. Humayun Siddiqui 14. Mr. Kamran Ajmal Mian 22. Mr. Shahzad Akbar Rizvi 15. Maj (Retd) Mushtaq Ahmed 23. Mr. Yousuf Ismail Tinwala 24. Mr. M. Najam Shamsuddin FAUJI OIL TERMINAL & DISTRIBUTION CO. LTD 25. Mr. Syed Hassan Mahmood Zaidi 26. Ms. Naila Anwar Malik 1. Lt. Gen. Muhammad Mustafa Khan (Retd) 27. Mr. Muhammad Hasan ul Muaab 2. Mr. Qaiser Javed 28. Ms. Meher Sohrab Patel 3. Dr. Nadeem Inayat 29. Ms. Adra Khan 4. Maj. Gen. Nasir Mahmood (Retd) 30. Ms. Aisha Masood 5. Mr. Masood Karim Shaikh 31. Mr. Tanzeel Ur Rehman 6. Mr. Hassan Sobuctageen 32. Mr. Danish Hussain Qureshi 7. Mr. Sajid Mehmood 33. Mr. Naveed Butt 8. Col. Muhammad Akmal Moughal (Retd) 34. Mr. Syed Ehsan Shahrukh 35. Mr. Akif Alam Khan GOVERNMENT HOLDINGS (PRIVATE) LIMITED 36. Mr. Raza Ul Haque 37. Mr. Abdul Kashif Latif 1. Mr. Abid Saeed 38. Mr. Aamir Ahmed Khan 2. Mr. Zahid Nazeer Bhatti 39. Mr. Badar Siddiqui 3. Mr. Javed Ghafoor 40. Mr. Ali Faisal Qadri 4. Mr. Muhammad Arif 41. Mr. waqar Abbasi 5. Syed Ashrafuddin 42. Mr. Muhammad Sagheer 6. Mr. Musharraf Abdullah 43. Mr. Alauddin 44. Mr. Aiman Khan INTER STATE GAS SYSTEMS (PVT) LIMITED 45. Mr. Dawood Hasan 46. Mr. Adil Rasheed 1. Mr. Mobin Saulat 47. Mr. Tariq Deedar 2. Mr. Falak Taj 48. Mr. M. Mubeen Hussain 3. Mr. Nasser Anwar 49. Mr. Ahmed Hasan Zaidi 4. Mr. Azhar Imtiaz Bhatty 50. Mr. Waheed Akhtar 5. Mr. Babar Majid 6. Mr. Nasir Chaudhry ENGRO VOPAK TERMINAL LTD KHYBER PAKHTUNKHWA OIL & GAS CO. LTD 1. Sheikh Imranul Haque 1 Mr. M. Raziuddin ENI PAKISTAN LIMITED 2 Mr. Amjad Ali 3 Dr. Ilyas Khurshid 1. Mr. Manfredi Giusto 4 Engr. Shahan Bacha 2. Mr. Shaukat Channah 5 Mr. Naeem Ullah 3. Mr. Caludio Nicolai

20 51st Annual Report 2014 MARI PETROLEUM COMPANY LIMITED 8. Mr. Abdul Hafeez 9. Mr. Mairaj A. Khawaja 1. Lt. Gen Nadeem Ahmed (RETD) 10. Mr. Insha Ahmed 2. Mr. Assad Rabbani 11. Mr. Abdus Sattar 3. Mr. Muhammad Asif 12. Mr. Zaman Bhatti 4. Mr. Tufail Ahmad Khoso 13. Mr. Riaz Malik 5. Mr. Javed Iqbal Jadoon 14. Mr. Imtiaz Hussain 6. Mr. Asif Ali Rangoonwala 15. Mr. Faheem Siddiqui 7. Mr. Zafar Zaheer 16. Mr. Afzal A Shad 8. Mr. Muhammad Saleem Siddique 17. Mr. Muzafar Khichi 9. Mr. Saeed Qureshi 18. Mr. Shahab Rizvi 10. Mr. Muhammad Hussain 19. Mr. Mir Shabir 11. Mr. Muhammad Ijaz 20. Mr. Asif Iqbal 12. Mr. Ijaz Hussain Malik 13. Mr. Ishrat Rehman OIL & GAS DEVELOMENT COMPANY LIMITED 14. Mr. Aftab Memon 15. Mr. Zulfiqar Anjum 1. Mr. Muhammad Rafi 2. Mr. Muhammad Riaz Khan MOL PAKISTAN OIL & GAS CO. B.V. 3. Mr. Basharat A. Mirza 4. Mr. Masood Nabi 1. Mr. Ÿkos Grosz 5. Mr. Muhammad Aslam Khan Niazi 2. Mr. Majdi Ahmad 6. Mr. Tahir Shaukat 3. Mr. Istvan Pardi 7. Mr. Arshad Mehmood Khan 4. Mr. Ahmad Awan Nawaz 8. Mrs. Shabina Anjum 5. Mr. Jawad Ahmed 9. Mr. Mushtaq Ahmad 6. Mr. Raja Gulfraz Akhtar 10. Mr. Rashid Mahmood 7. Mr. Ejaz H. Hashmi 11. Mr. Salman Amin 8. Mr. Khalid Iqbal 12. Mr. Muhammad Ayaz 9. Mr. Csaba Raisz 13. Mr. Amjad Saeed Yazdani 10. Mr. Mohammad Azeem 14. Mr. Bashir Ahmed 11. Mr. Afzaal Akhtar 15. Dr. M. Saeed Khan Jadoon 12. Mr. Ahmed Rauf 16. Mr. Khan Alam 13. Mr. Qazi Shujaat Ali 17. Mr. Imran Shukat Ali Khan 14. Col. Niaz Safdar 18. Mr. Naseer Ahmed Rana 15. Mr. Zubair Chughtai 19. Mr. Sheikh 16. Mr. Ali Amjad Jafri 20. Mr. Syed Ahmad Naeem 17. Mr. Abid Hussain 21. Mr. Qamar-ul-Haq 18. Mr. Syed Qamar Ali Shah 22. Mr. Arshad Malik 19. Mr. Abid Hussain Abbasi 23. Mr. Ifran Babar Khan 20. Mr. Rizwan Fidai 24. Mr. Asad Ahmad Asad 21. Mr. Abdul Malik Kakar 25. Mr. Ahmed Hayyat Lak

NATIONAL REFINERY LIMITED OMV (PAKISTAN) EXPLORATION GMBH

1. Mr. Shuaib A. Malik 1. Mr. Kurt Wagner 2. Mr. Jamil Ahmed Khan 2. Mr. Harald Osel 3. Mr. Shahid Waheed Khawaja 3. Mr. Adeel Rahmani 4. Mr. Muhammad Aslam 4. Mr. Martin Zanetti 5. Mr. Aftab Ahmed Zahid 5. Mr. Abdul Wahid Chughtai 6. Mr. Nisar A. Khan 6. Mr. Muhammad Ikhlas 7. Mr. A. Asif

51st Annual Report 2014 21 7. Mr. Nasir Zaman 30. Mr. Riaz A. k. Butt 8. Mr. Michael Stairs 31. Mr. Muhammad Yasin 9. Mr. Muhammad Ibrahim 32. Mr. Mustafa Kamal 10. Mr. Saqib Hussain 33. Mr. Mushtaq Ahmed 11. Mr. Shoaib Mahboob 34. Mr. Iftikhar Ahmed 12. Mr. Adnan Rashid 35. Mr. Moin-Ur-Rehman 13. Mr. Gerhard Frey 36. Mr. Muhammad Habibullah 37. Mr. Mirza Zahid Baig PAK-ARAB PIPELINE COMPANY LIMITED 38. Mr. Waseem Ahmed Khan 39. Mr. Abdul Qadir 1. Mr. Feroze J. Cawasji 40. Mr. Aziz Vayani 2. Mr. Omar Motiwalla 41. Mr. Abdul Nasir Khan 3. Mr. Nadeem Yusuf Mufti 42. Mr. Muhammad Rahseed 4. Mr. Jawad Ahmed 43. Mr. Gulsher Shaikh 5. Mr. Sohail Suleman 44. Mr. Muzaffar Ali Khan 6. Mr. 45. Mr. Muhammad Asif Bahtti 7. Mr. M. Faisal Qureshi 46. Mr. Muhammad Ijaz Ahmed 8. Mr. M. Saad Umair Afsar 47. Mr. Qadeer Ahmed 48. Mr. Fahim Wahid Motiwala PAK-ARAB REFINERY LTD 49. Mr. Zafar Iqbal 50. Mr. Ikram Ilahi Sethi 1. Mr. S. Tariq Rizavi 51. Mr. Muhammad Iqbal Khan 2. Mr. Shuja uddin Ahmed 3. Syed Zakir Hussain Shah PARCO PEARL GAS (PVT) LIMITED 4. Mr. Munawar Ali Tejani 5. Mr. Ahmed Nadeem Jamal 1. Mr. Feroze J. Cawasji 6. Syed Zawar Haider 2. Mr. Amir Latif Butt 7. Mr. Shah M. Saad Husain 3. Mr. Naveed J Solaija 8. Mr. Shahid Mahmood Khan 4. Mr. Agha Fawad Mehmood 9. Syed Ali Abid Naqvi 5. Mr. Azhar Sarwar 10. Mr. Amjad Hafeez 6. Mr. Sohail Janjua 11. Mr. Khalid Rashid Khan 7. Mr. Muhammad Mohsin Maan 12. Syed Shahid Mahmood 8. Mr. Muhammad Aurangzeb 13. Mr. Sharon Dias 9. Mr. Nayyer Aqib 14. Mr. Mohammad Omair Pirzada 10. Mr. Haris Zeb 15. Mr. M. Abdul Qayyum Khan 11. Mr. Aamir Islam 16. Mr. Imran Rab 12. Mr. Rizwan Ul Hassan 17. Mr. Raheel Hafeez Seghal (BR) 13. Mr. Syed Imran Rizvi 18. Mr. Munawar Ahmad 14. Mr. Syed Asad Hussain 19. Mr. Aly Zaki Ansari 15. Mr. Waseem Ashfaq 20. Mr. Tahir Rashid 16. Mr. Yasser Mumtaz 21. Mr. Adil Aziz Khan 22. Mr. Aamir Abbas PAKISTAN PETROLEUM LIMITED 23. Mr. Muhammad Iqbal 24. Mr. Shabbir Sultan 1. Mr. Arshad Mirza 25. Mr. Muhammad Iftikhar Ahmed 2. Mr. Waqar A. Malik 26. Mr. Babar Mehmood Shahzad 3. Mr. Asim Murtaza Khan 27. Mr. Muhammad Tahir 4. Mr. Moin Raza Khan 28. Mr. Abbasi 5. Mr. Dr. Fareed Iqbal Siddiqui 29. Mr. Pervaiz Ahmed 6. Mr. Ghulam Farooq Maniar

22 51st Annual Report 2014 7. Mr. Hayat Ahmad 3. Mr. M. Naman Shah 8. Mr. Javed Siddiqui 4. Mr. Imran Ahmed Mirza 9. Mr. Kamran Wahab Khan 5. Mr. Muhammad Ali Mirza 10. Mr. Masroor Ahmad 6. Mr. Muhammad Azhar 11. Mr. Anwar Hussain Mirza 7. Mr. Najam Mahmud 12. Mr. Sultan Maqsood 8. Mr. Asad Hasan 13. Mr. Syed Kaleem Akhtar 9. Mr. Mohammad Khalid 14. Dr. Nadeem Ahmad 10. Mr. Shehrzad Aminullah 15. Mr. Anwar Farid 11. Mr. Shakeel Akber Rizvi 16. Mr. Mohammed Arshad Siddiqui 12. Mr. Abdul Majid 17. Mr. Abid Ashfaque Malick 13. Mr. Asim H. Akhund 18. Mr. Khalid Raza 14. Mr. Akbar Musharraf 19. Mr. Syed Mumtaz Alam 15. Mr. M. Anees Akthar 20. Mr. Maqsood Ahmad Toor 16. Mr. Khalid Shamsher 21. Mr. Rehan Mohiuddin Ahmed 17. Maj. ® Kamran Rab 22. Mr. Sadiqain Haider 18. Mr. Fawad Hussain 23. Mr. Zafeer Hassan Khan 19. Mr. M. Farhan Hassan 24. Mr. Zafar Iqbal Kahara 20. Mr. Sami-ur-Rehman 25. Mr. Nauman Hussain Tirmizi 21. Mr. Mustafa Ali Khan 26. Dr. Khurram Shahid 22. Mr. Ameer Hussain 27. Mr. Danish Zuberi 23. Mr. Muhammad Noman 28. Mr. Abdul Qayyum 24. Mr. M. Hafeez khan 29. Mr. Mohammad Asadullah Khan Adil 25. Mr. Syed Azeemuddin 30. Mr. Syed Rashid Hasan Gilani 26. Mr. Nadeem Akhter 31. Mr. Muhammad Nawaz 27. Mr. Junaid Muhammad Khan 32. Mr. Muhammad Noman Khan 28. Mr. Omar Siddiqui 33. Mr. Syed Muhammad Tauqeer 29. Mr. Munir Ahmad 34. Mr. Syed Rahat Hussain Naqvi 30. Mr. Syed Abdul Qadir 35. Mr. Jamil Akhtar 31. Mr. Kamran Jaweed 36. Mr. Sagheer Hussain 32. Mr. Muhammad Asad Malik 37. Mr. Muneer Ahmed Memon 33. Mr. Mohammad Akhtar Ali 38. Mr. Dr. Shujjat Ahmed 34. Mr. Irfan Ul Haque Patel 39. Mr. Tauseef Ahmad Khan 35. Mr. Irfan Ahmed Siddiqui 40. Mr. Dr. Muhammad Iqbal 36. Mr. Salman Saleem 41. Mr. Syed Firasat Shah 37. Mr. Akhtar Hussain Khatri 42. Mr. Syed Shariq Ali Hashmi 38. Mr. Abid Abbas Safdar 43. Mr. Atta Mohammad Khakwani 39. Mr. Naveed Kamran 44. Mr. Muhammad Ali 40. Mr. Syed Faisal Aziz 45. Mr. Saiyed Mohammed Ghufran Haider 41. Mr. Muhammad Naeem Bhatti 46. Mr. Shahid Mir Basha 42. Mr. Farhan Khan 47. Mr. Syed Javed Zahoor 43. Mr. Tariq Masood 48. Mr. Majid Ali Siddiqui 44. Mr. Muhammad Nouman Khan 49. Mr. Omer Hayat Bugti 45. Ms. Sandhya Tara 50. Mr. Waheeduddin Ahmed Ansari 46. Mr. Raheel Ahmad Hanfi 51. Mr. Sajjad Ahmed 47. Mr. Sameer Ahmed Khan 48. Mr. Muhammad Asim Hayat PAKISTAN REFINERY LIMITED 49. Mr. Asad Ali Khan 50. Ms. Rida Ahmed 1. Mr. Aftab Husain 2. Ms. Seema Adil

23 51st Annual Report 2014 23 PAKISTAN STATE OIL CO. LIMITED 50. Mr. Adeel Ather

1. Mr. Amjad Parvez Janjua SHELL PAKISTAN LTD 2. Mr. Jehangir Ali Shah 3. Mr. Sohail A. Butt 1. Mr. Omar Sheikh 4. Mr. Yacoob Suttar 2. Mr. Rafi Basheer 5. Mr. Naved Alam Zubairi 3. Mr. Haroon Rashid 6. Dr. S. Nazir Abbas Zaidi 4. Mr. Abid Saeed Ibrahim 7. Mr. S. Zulfiqar Ali Jaffri 5. Ms. Shafaq Omar 8. Mr. S. Tariq Hasan Razvi 6. Mr. Iftikhar Din 9. Mr. Aziz Hemani 7. Mr. Tariq Saeed 10. Mr. Babar H. Chaudhary 8. Mr. Yousuf Ali 11. Mr. Tariq Akbar Khan 9. Mr. Mazhar U. Deen 12. Mr. Mir Shahzad Talpur 10. Mr. Zubair Shaikh 13. Mr. Raja Imranullah Khan 11. Mr. Tauseef ul Islam 14. Dr. Altaf Hussain Soomro 12. Mr. Yasser Effendi 15. Ms. Shamail S. Shah 13. Mr. Taha Magrabi 16. Mr. Arif Nasib 14. Mr. Hisham Khan 17. Mr. Asif Aslam Khan 15. Mr. Umer Asif 18. Mr. Hammad Zafar 16. Ms. Afshan Pasha 19. Ms. Shaista S. Sumar 17. Mr. Asif Iqbal 20. Mr. Amjad Mehmood Khan 18. Mr. Behzad Khan 21. Mr. Syed Moinuddin Balkhi 19. Mr. Masroor Khan 22. Lt. Col. (R) Fazle Abbas 20. Dr. 23. Mr. Hassan Ali Hamdani 21. Mr. Junaid Khan 24. Mr. Khalid Mehmood 22. Ms. Madiha Khalid 25. Mr. Nawaid Anjum Zaidi 23. Ms. Connie Mendes 26. Mr. Yousuf Ahmed Mirza 24. Mr. Aadil Riaz 27. Mr. Rustom H. Mavalvala 25. Mr. Mohsin Sukkurwala 28. Mr. Munawar A. Minhas 26. Mr. Asif Iqbal Ansari 29. Mr. Naimatullah Behan 27. Ms. Maria Rehan 30. Mr. Babar Zia Hashmi 28. Mr. Owais Sultan 31. Mr. Musheer Haider 29. Ms. Afshan Khan 32. Mr. Anis Ul Rehman 30. Mr. Aamir Millwala 33. Mr. M. Azam Farooqi 31. Mr. Farooq Barkat 34. Mr. Masroor Qasim 35. Mr. Salim Akhtar Khan 32. Mr. Faisal Tariq 36. Mr. Aminuddin 33. Ms. Mehnaz Mohajir 37. Mr. Rifat A Khan 34. Mr. Ghulam Raza Hemani 38. Mr. Munir A. Makhdoom 35. Mr. Rayomand Ghadiali 39. Mr. Arif Rasheed Khan 36. Mr. Omair Waseem 40. Mr. Naseem Aftab 37. Mr. Syed Haris 41. Ms. Sumera Manzar 38. Mr. Mian Usman 42. Mr. Tariq Hussain 39. Mr. Zain Agha 43. Mr. M. Nasir Khan 40. Mr.Yasir Ali 44. Mr. Asad Raza Faiz 41. Mr. Habib Haider 45. Mr. Ejaz Ahmed Khan 42. Mr. Zeeshan Anwar 46. Mr.Saad Uddin Ahmed 43. Ms. Nadia Hussain 47. Mr. Syed Nasik Ijaz 44. Mr. Omair Waseem 48. Mr. M. Rizwanul Haque 45. Mr. Faisal Aleem 49. Ms. Mariam Shah 46. Mr. Iqtidar Siddiqui

24 51st Annual Report 2014 47. Mr. Fida-e-Hasan Zaidi 44. Mr. Rafique Ahmad 48. Mr. Muhammad Ali Sheikh 45. Mr. Mir Bahadur Khan 49. Ms. Natasha Qamar 46. Mr. Ikramullah Khan 50. Mr. Mansoor Murad 47. Mr. Waqar Ashraf 48. Mr. Irfan Baig SUI NORTHERN GAS PIPELINES LIMITED 49. Mr. Shahzad Nazir Qurahshi 50. Mr. M. Ijaz Ahmed 1. Mr. M. Arif Hameed 51. Mr. Zafar Mahmood Bhutta 2. Mr. Amjad Latif 3. Mr. Ali Hussain Qureshi SSGC LPG (PRIVATE) LIMITED 4. Mr. S. Zahid Hussain 5. Mr. M. Liaqat Raza 1. Mr. Sohail A. Quraishi 6. Mr. Sohail M. Gulzar 2. Mr. Ghalib Jalees 7. Mr. Najeeb ul Hassan 3. Mr. Ahmed Z. Zaheer 8. Mr. M. Aslam 4. Mr. Liaqat Ali 9. Mr. Abdul Aziz 5. Mr. Faheem Durrani 10. Mr. Sibghatullah 6. Mr. M. Ali Khan 11. Mr. Asif Akbar Khan 7. Mr. Sami Javed 12. Mr. M. Khalid Aftab 8. Mr. Syed Hassan 13. Mr. Mehmood Zia Ahmad 9. Mr. Asad Ur Rehman 14. Mr. Mir Muhammad Ali Tipu 10. Mr. Naveed Aslam 15. Mr. Abdul Ahad Shaikh 11. Mr. Zeeshan Haider 16. Mr. Ejaz Ahmad Chaudhary 12. Mr. Tariq Zia 17. Mr. Kashif Siddiqui 13. Mr. Zulfiqar Siddisui 18. Mr. M. Iftikhar 14. Mr. Ahsan Uddin 19. Mr. Ejaz ur Rehman 15. Mr. Awais Ali Butt 20. Mr. Imran Ahmad Khan 16. Ms. Noreen Akhtar 21. Mr. M. Hanif 17. Mr. Ejaz Rana 22. Mr. M. Naseer Feroz 18. Mr. Adnan Javed 23. Mr. Moeen Ahmed 19. Mr. Farrukh Anis 24. Mr. M. Akram Arain 20. Mr. Ali Ansari 25. Mr. Javed Iqbal Khan 21. Mr. Raja Yasir 26. Mr. Farrukh Majeed Bala 22. Mr. Mohib H. Khan 27. Mr. M. Ashraf Nadeem 28. Mr. Qaiser Masood SUI SOUTHERN GAS COMPANY LIMITED 29. Mr. Shaheryar Qazi 30. Mr. Imran yousaf Khan 1. Mr. Shoaib Warsi 31. Mr. Amjad Mumtaz 2. Mr. Yusuf Jamil Ansari 32. Mr. S. M. Tariq Iqbal 3. Mr. Muhammad Akhtar 33. Mr. Shahzad Iqbal Laun 4. Mr. Rahat Kamal Siddiqui 34. Mr. M. Zahoor 5. Mr. Abdul Malik 35. Mr. Ali Ahmed 6. Mr. Muhammad Amin Rajput 36. Mr. M. Tayyab Faisal 7. Mr. Irfan Zafar 37. Mr. Shahadat Ali 8. Dr. Ejaz Ahmed 38. Mr. M. Haroon Khan 9. Mr. Abdul Majid Malik 39. Mr. Muhammad Arshad 10. Mr. Shakil Ahmed Bukhari 40. Mr. M. Ikram 11. Mr. Fayyaz Merchant 41. Mr. Navied Ashraf 12. Mr. Nasir Ahmed Shaikh 42. Mr. Ashraf Mahmood 13. Lt. Col.(R) Shoaib Ahmed 43. Mr. Saqib Arab 14. Mr. Syed Shehryar Kazmi

25 51st Annual Report 2014 25 15. Ms. Faiza Kapadia Raffay UNITED ENERGY PAKISTAN LIMITED 16. Mr. Muhammad Ziyad A. Syed 17. Mr. Shahbaz Islam 1. Mr. Tariq Khamisani 18. Mr. Shah Mujtaba Ahmed 2. Mr. Abdul Haq Siddiqui 19. Mr. Madni Ahmed Ali Arfat 3. Mr. Abdullah Anis 20. Mr. Saeed Ahmed Larik 4. Mr. Adeel A. Kazi 21. Mr. Abdul Mannan 5. Mr. Aejaz Akhtar Khan 22. Mr. Syed Arsalan Iqbal 6. Mr. Aftab Ahmed Memon 23. Sqn. Ldr. (R) Amir Mumtaz Khan 7. Mr. Ali Azfar Naqvi 24. Mr. Fasih Azhar 8. Mr. Syed Mohammad Raza 25. Ms. Shaista Sajid Shaikh 9. Mr. Asrar Muhammad 26. Mr. Asif Fateh Shaikh 10. Capt. Amir Gul 27. Mr. Muhammad Sohail Khan 11. Dr. Amer Aziz Daudpota 28. Mr. Kashif Qadeer 12. Mr. Hasan M. Kazilbash 29. Mr. Hyder Ali Talpur 13. Ms. Imrana Khawja 30. Dr. Munawar Hayat 14. Mr. Imriaz Hussain Notkani 31. Mr. Syed Muhammad Saeed Rizvi 15. Mr. Jawed Akhter Khan 32. Mr. Azam Akhtar 16. Mr. Shaz Munir Keeriyo 33. Mr. Muhammad Ahmed Siddiqui 17. Mr. M. Wasim Uddin 34. Mr. Kamran Ahsan Nagi 18. Mr. Mausuf Ahmad 35. Mr. Syed Fasihuddin Fawad 19. Mr. Mirza Imran Baig 36. Mr. Abdul Waheed jumani 20. Mr. Mohammad Abdul Qadir Ali 37. Brig. (R) Mir Waqar Hussain 21. Mr. Mohammad Sajjad Zahoor 38. Mr. Adnan Saghir Siddiqui 22. Mr. Moid Khaliq Malik 39. Mr. S. Khalid Hassan 23. Mr. Mozaffar Imam 40. Mr. Mansoor Ahmed 24. Mr. Muhammad Arif Hussain Malik 41. Mr. Malik Usman Hasan 25. Mr. Muhammad Zafar Iqbal 42. Mr. Syed Tariq Munawwar 26. Mr. Muhammad Zaheer Alam 43. Mr. Syed Abbas Raza 27. Mr. S.M. Mozzaffar Alam 44. Mr. Adil Shabbir Paracha 28. Mr. Saad Moin 45. Mr. Abdul Rasheed Khan 29. Mr. Saadia Ahsan 30. Ms. Sabeen Jatoi TOTAL PARCO PAKISTAN LIMITED 31. Mr. Saddruddin H. Ali Jumani 32. Mr. Safdar H. Nensey 1. Mr. Marc Soissong 33. Mr. Saffad Akhtar Memon 2. Mr. Abid Latif 34. Mr. Salman Anwar 3. Mr. Hassan Nasrullah 35. Mr. Sarwar Maniar 4. Mr. Asmat Ullah 36. Mr. Muhammad 5. Mr. Sohail Farookhi 37. Mr. Syed Junaid Ahmed 6. Mr. Asif Iqbal 38. Mr. Syed Manzoor Hussain 7. Mr. Qasim Zaheer 39. Mr. Syed Suhail Yusuf 8. Mr. Mudassir Javaid 40. Mr. Tauqeer Ehsan Rana 9. Mr. Kamran Ilyas 41. Mr. Zahid Ali Shah 42. Mr. Zia Hasan Siddiqui

26 51st Annual Report 2014 Form of Proxy

The Company Secretary Petroleum Institute of Pakistan 1st Floor, Federation House Block V, Clifton, Karachi. I of being a member of Petroleum Institute of Pakistan, hereby appoint Mr. as my proxy to vote for me and on my behalf at 51st Annual General Meeting of the Institute to be held on 18 December 2014 and any adjournment thereof

Signed this day of 2014.

Signature of Proxy Signature of Member

Note:

Proxies in order to be effective must be received at the Company’s Registered Office not later than 1600 hours on December 16, 2014.