The oil and gas marketing companies (OMCs) in Pakistan face challenges due to regulated pricing, circular debt, and smuggling. However, the demand for petroleum products is increasing due to a growing middle class and increasing car sales. OMCs have the potential for growth and profitability, especially if the sector becomes unregulated. PSO is the largest OMC and is impacted by circular debt, but it has the potential for good capital gains and dividends. Attock Petroleum is cash-rich and has expansion plans. Shell is looking to exit Pakistan, and its valuation will be based on its assets. The OMC sector is a defensive sector and has good prospects for the future. Keywords oil and gas marketing companies, OMCs, Pakistan, challenges, demand, growth, profitability, PSO, circular debt, Attock Petroleum, Shell, valuation, unregulated sector, capital gains, dividends Takeaways 1. OMCs in Pakistan face challenges due to regulated pricing, circular debt, and smuggling 2. The demand for petroleum products is increasing in Pakistan 3. PSO has the potential for good capital gains and dividends 4. Attock Petroleum is cash-rich and has expansion plans 5. Shell is looking to exit Pakistan and its valuation will be based on its assets 6. The OMC sector is a defensive sector and has good prospects for the future Chapters 00:00 Challenges Faced by OMCs in Pakistan 12:54 Increasing Demand for Petroleum Products 38:23 Unregulated Sector and Individual Pricing 49:04 Valuation and Investment Opportunities 56:17 Future Outlook for the OMC Sector