Oil & Gas Development Company Limited (OGDC) posted a profit after tax of PKR 133,784mn (EPS: PKR 31.11) during FY22 against PKR 91,534mn (EPS: PKR 21.28) in FY21, witnessing a jump of 46% YoY. Whereas, net profit during 4QFY22 settled at PKR 21,740mn (EPS: PKR 5.05), down by 14% YoY due to imposition of super tax during the quarter.… Continue

Attock Petroleum Limited (APL) held its analyst briefing earlier today to discuss the FY22 results, the highlights of which are as follows:

·      APL’s market share for FY22 stands at 10% (FY21: 9.4%), with total retail outlets standing at 730 with 63 newly commissioned during the outgoing year.… Continue

Pakistan Oilfields Limited (POL) held its corporate briefing session today to discuss its FY22 financial results. POL posted unconsolidated earnings of Rs25.9bn (EPS Rs91.37) in FY22, up 94% YoY. Despite decline in oil/gas production, the company posted a phenomenal growth in bottomline owing to higher oil prices, rupee devaluation and higher other income on the back of exchange gain on FX deposits.… Continue

As per latest financial result announcement, Pakistan Petroleum Limited (PPL) posted a profit after tax of PKR 53,546mn (EPS: PKR 19.68) during FY22 compared to PKR 52,431mn (EPS: PKR 19.27) in FY21, depicting an increase of 2% YoY. Meanwhile, bottom-line during 4QFY22 arrived at PKR 1,217mn (EPS: PKR 0.45), down by a massive 91% YoY.… Continue

Oil & Gas Development Company Limited (OGDC) is scheduled to announced its FY22 financial result on 22nd Sep’22, where we expect earnings to settle at PKR 136,512mn (EPS: PKR 31.74), ascending by 49% YoY. The surge in net profit is forecast on account of i) higher oil prices, and ii) Pak Rupee depreciation against USD by 10% YoY.… Continue

Pakistan Petroleum Limited (PPL) is expected to announce its FY22 financial result on 20th Sep’22, where we expect company’s bottom-line to clock-in at PKR 64,122mn (EPS: PKR 23.57) in contrast to PKR 52,431mn (EPS: PKR 19.27) in FY21, up by 22% YoY.… Continue

Pakistan oil sales increased by 6% MoM in Aug-2022 driven by High Speed Diesel (HSD) and Motor Spirit (MS) demand which improves by 12% and 7% MoM respectively. This rise is partly attributable to the resumption of economic activities in the first half of the month, but it is mostly due to a low base, with sales on Jul-2022 being the lowest since Feb-2021 due to the Monsoon session and Eid holidays.… Continue

Hascol Petroleum (HASCOL) after obtaining its OMC license in 2005, massively expanded its storage capacity and retail network becoming the second largest OMC Company in 2018. However, domestic macroeconomic environment and challenges relating to COVID-19 held back the progress of the company.… Continue

 According to the latest hydrocarbon reserves data by PPIS, oil reserves during Jun’22 have reduced by 7% YoY, arriving at 233mn bbl compared to 249mn bbl in Jun’21. The decline comes on the back of the reduction in oil reserves of major fields such as Mardenkhel, Adhi, Shahdadpur, Pasakhi/Paskhi North East, Nashpa and Mela by 13%, 14%, 15%, 22%, 38% and 74% YoY, respectively.… Continue

SNGP held its conference call today whereby the management discussed the FY21 financials and its future outlook. The call was led by the MD Mr. Ali Hamdani.

Brief Takeaways

·      The company has a network of 7.4bn consumers.

·      43% of Pakistan’s energy mix relies on gas provided by SNGP (68%) and SSGC (32%) of which 33% is Indigenous gas and 10.3% in LNG.… Continue

Pakistan State Oil Company Limited (PSO) is scheduled to announce its FY22 financial result on 26th Aug’22, where we expect the company to post a profit after tax of PKR 102,835mn (EPS: PKR 219.04), up by 3.5x YoY. This is attributable to volumetric growth of 29% YoY (FO, HSD, and MS volumes increased by 62%, 26%, and 15% YoY, respectively) and massive inventory gains during FY22 leading to a surge in gross margins by 241bps YoY to 6.94%.… Continue

The Board of Directors of Shell Pakistan Limited (SPL) announced the Company’s half year results on August 17th, 2022. The Company posted a profit after tax of PKR 7,469 million compared to the profit of PKR 2,153 million made in the same period last year.… Continue

Attock Petroleum Limited (APL) announced the financial result for FY22, whereby the company has posted a profit after tax (PAT) of PKR 18,536mn (EPS: PKR 186.23) compared to PKR 4,920mn (EPS: PKR 49.43) in FY21, up by 277% YoY. On a quarterly basis, earnings clocked-in at PKR 7,289mn (EPS: PKR 73.24), up by 5.8x YoY and 57% QoQ in contrast to PKR 1,255mn (EPS: PKR 12.61) and PKR 4,638mn (EPS: PKR 46.60), respectively.… Continue

Pakistan Oilfields Limited (POL) reported its earnings earlier today, announcing NPAT of PkR25,935mn for FY22, higher by 95% compared to the same period last year. For the final quarter, the company reported earnings of PkR8,439mn (EPS: PkR29.73), higher by 1.28xYoY and 28%QoQ.… Continue

Attock Petroleum Limited (APL) is scheduled to announce its FY22 financial result on 16th Aug’22, where we expect the company to report a PAT of PKR 18,577mn (EPS: PKR 186.65) in FY22, up by 278% YoY compared to PKR 4,920mn (EPS: PKR 49.43).… Continue

· Attock Petroleum Limited (APL) is expected to announce its 4QFY22 result on 16th August, where we expect the company to post PAT of PkR7.2bn (EPS: PkR73).

· We expect the company to record inventory gains of ~PkR13.3bn (PkR 133/sh) during the outgoing quarter, as ex-refinery prices of MS/HSD rose by 66%/92% between May and June’22, respectively.… Continue

· The London Court of International Arbitration (LCIA) has ruled in favour of Sui Northern Gas Pipeline Limited (SNGP) on its claim against Quaid-e-Azam Thermal Power (Private) Limited (QATPL).

· QATPL is wholly owned by the Government of Punjab. The company owns and operates re-liquefied Natural Gas (RLNG) based Combined Cycle Gas Turbine (CCGT) power plant of 1,183 MW generating capacity at Bhikki, District Sheikhupura – Punjab.… Continue

President of Korangi Association of Trade and Industry (KATI) Salman Aslam has announced a 7-member committee to help the victims of rain and flood in Balochistan under his supervision. Other members of the committee include Vice President KATI Farrukh Ali Qandhari, Junaid Naqi, Hamud-ur-Rahman, Umar Saeed, Ahsan Farooqui and Mir Jan.… Continue

Mari Petroleum Company Limited is expected to announce its FY22’s financial result on 4th Aug’22, where we expect the net profit to settle at PKR 33,441mn (EPS: PKR 250.68) against PKR 31,445mn (EPS: PKR 235.71) in FY21, up by 6% YoY.… Continue

Pakistan oil sales commenced FY23 with a decline of 26% MoM to clock in at 1.44mn tons in July 2022 (lowest since Feb-21). This was mainly due to significant decline in all 3 petroleum products: High Speed Diesel (HSD) sales reduced by 38% MoM to 444k tons, Motor Gasoline (MOGAS) sales declined by 15% MoM to 594k tons and Furnace Oil (FO) sales dipped by 23% MoM to 350k tons.… Continue

·         We expect Pakistan State Oil (PSO) to post PAT of PkR44bn (EPS: PkR94) in its 4QFY22 result, increasing by 290%YoY/30%QoQ on the back of astronomical inventory gains, subsequently keeping gross margins skywards.

·         On the topline front, company’s revenue is expected to clock in at PkR893bn, up 154%YoY/57%QoQ as retail prices increases coupled with risen dispatches (up 36% QoQ) allowed the company post its highest ever quarterly topline.… Continue

Pakistan oil sales declined by 11% MoM to 1.9mn in June 2022, mainly driven by ~14% MoM dipped in MOGAS and HSD sales. This was due to a sharp increase in MOGAS and HSD prices by 31% & 51% in June 2022, respectively.… Continue

Shell has been a leading global supplier of finished lubricants for 15 consecutive years. Shell Lubricants business in Pakistan has appointed Burque Corporation to manage its distribution in Quetta to improve customer experience.

Shell Pakistan required a resourceful distribution partner in Quetta with proven commercial capabilities and a strong footprint to ensure wide reach and responsive customer care.… Continue

The management of Pakistan State Oil Company Limited (PSO) held a corporate briefing session on 28th Jun’22 to discuss the financial performance of 9MFY22 and future outlook.

Brief Takeaways

·        To recall, the company posted the highest ever 9MFY22 earnings of PKR 64,769mn (EPS: PKR 137.96) compared to PKR 18,242mn (EPS: PKR 38.86), up by 3.6x YoY on account of growth in the overall volumes.… Continue