Attock Petroleum Limited (PSX: APL) is penetrating the electric vehicle (EV) market by establishing EV charging facilities at its retail outlets across Pakistan. This initiative is part of the company’s broader strategy to embrace green business practices and reduce its carbon footprint, as highlighted in its annual report for the financial year 2023-24.

The expansion of APL’s EV charging network is aimed at combating climate change and aligns with global sustainability goals. The company is actively working to extend its DC Fast Electric Vehicle Charging network to motorway service areas. Additionally, APL plans to transition to OnGrid Solar Systems at its retail outlets and storage terminals.

Notably, the company has already installed and commissioned EV charging facilities at Islamabad Club and Garrison Filling Station, and has upgraded the facility at Hassan Petroleum in Blue Area, Islamabad.

In a move to diversify its revenue streams, APL is also entering the Liquefied Petroleum Gas (LPG) market. The company expects to commission its LPG storage facility in Rawalpindi by the end of 2024.

Furthermore, APL is investing heavily in expanding and enhancing its Bulk Oil Storage Terminals nationwide, demonstrating its commitment to strengthening its infrastructure and market presence.

The principal activities of Attock Petroleum include the procurement, storage, and marketing of petroleum and related products. As of Thursday, APL’s stock was trading at Rs. 419.19, marking an increase of 1.13 percent or Rs. 4.7, with 1,519 shares exchanged.