As a responsible corporate, the Oil and Gas Development Company Limited (OGDCL) under its CSR Program yesterday launched ‘MASHAL-E-ELM Program’ for out-of-school children of village Chappri in district Attock.

In this regard, an MoU was signed between Vision-21 Global and OGDCL to launch the education program at the cost of PKR 29.816 million.… Continue

The management of Oil & Gas Development Company Limited (OGDC) held a corporate briefing session on 24th Nov’22 to discuss the company’s financial performance and future outlook.

Brief Takeaways

· To recall, the company posted a profit after tax of PKR 133,784mn (EPS: PKR 31.11), witnessing a surge of 46% YoY owed to higher oil prices and Pak Rupee depreciation against the greenback.… Continue

·         Past four months have seen the demand for refined petroleum products drop by 21.6% majorly due to higher pump prices, impact due to floods and an overall economic slowdown.

·         A 29.5% decline in POL product imports was witnessed as well in the first four months (Jul-Oct), compared to SPLY, as quantity imported stood at 6.06mn tons during the period vs.… Continue

Pakistan Petroleum Limited (PPL) held its analyst briefing earlier today, discussing the following points. Regarding international operations, the block in Abu Dhabi has several known discoveries, and the company expects to spud the first well in the mid-next year.

· To recall, the company posted the highest quarterly PAT PkR26.6bn (EPS: PkR9.8) for 1QFY23, higher by 20.9x compared to the previous quarter.… Continue

· The Exploration & Production sector reported phenomenal earnings for 1QFY23, with the sector’s NPAT clocking in at PkR100.8bn—the highest in its history. The sector’s revenues grew by 1.6xQoQ and 55%YoY, with good macros driving earnings growth this quarter.

· Net sales clocked in at PkR226.6bn for the quarter, higher by 54%YoY/13%QoQ, despite a drop in Oil/Gas production of 10%/2%YoY, respectively, with a weak PkR driving topline growth.… Continue

Being the oldest energy company in the country, with a strong and rich legacy, Shell Pakistan hosted a ceremony to celebrate its 75 years in Pakistan, together with its employees, partners, industry leaders, business professionals and academia. The ceremony also included Shell Tameer Awards 2022, a nationwide contest to recognise the best and the brightest young entrepreneurs in Pakistan.… Continue

Total Petroleum sales settled at 1.66mn tons in Oct’22, depicting a decline of 17% YoY given i) higher petroleum prices, ii) lower FO-based power generation, and iii) a plunge in automobile sales. MS witnessed a fall of 11% YoY, to settle at 0.68mn tons in Oct’22.… Continue

Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC), one of the world’s most influential energy sector events, is taking place from 31-03 November 2022 in Abu Dhabi National Exhibition Centre (ADNEC), United Arab Emirates, under the patronage of President of the United Arab Emirates.… Continue

On Thursday, the Oil and Gas Development Company Limited (OGDCL), Pakistan’s largest oil and gas exploration company, announced the discovery of oil reserves from its exploratory well – Toot Deep-1 Well – located in the Attock district of Punjab.

OGDCL, the operator of Toot Mining Lease with 100% working interest, has made an oil discovery from Lokhart Formation at Toot Deep-I Well, located in Attock District, Punjab Province, Pakistan.… Continue

The 71st Annual General Meeting of Pakistan Petroleum Limited (PPL) was held online on October 26. Members approved financial statements for the fiscal year ended June 30, 2022, together with the auditor’s report. A final cash dividend of 5 percent on both ordinary and convertible preference shares was approved.… Continue

Pakistan State Oil (PSO) is scheduled to announce its 1QFY23 result on 27th Oct’22, where we estimate the company to post a profit after tax of PKR 7.2bn (EPS: PKR 15.27), down by 40% YoY. The fall in bottom-line comes on the back of lower volumes and inventory loss during the period under review compared to inventory gains in same period last year.… Continue

Pakistan Petroleum Limited (PPL) is scheduled to announce its 1QFY23’s financial result on 27th Oct’22, where we anticipate the company’s profitability to clock-in at PKR 4,490mn (EPS: PKR 8.53) during the quarter compared to PKR 16,991mn (EPS: PKR 6.24) in 1QFY22, up by 37% YoY.… Continue

Oil and Gas Development Company Limited (OGDC) announced its financial result today, posting a profit after tax (PAT) of PKR 53,303mn (EPS: PKR 12.39) in 1QFY23 compared to PKR 33,629mn (EPS: PKR 7.82) in 1QFY22, up by 58% YoY. Alongside the result, the company announced an interim cash dividend of PKR 1.75/share in 1QFY23 (PKR 1.75/share in 1QFY22).… Continue

Cnergyico Pk Limited (CNERGY) held its analyst briefing earlier today, wherein the following was discussed:

 ·         To recall, the company posted earnings of PkR4.7bn (EPS: PkR0.90) for FY22, higher by 34.2% compared to the earlier year. CNERGY’s Net sales for the year were PkR170bn, higher by 20%YoY.… Continue

The Board of Directors of Shell Pakistan Limited (SPL) announced the Company’s 3rd quarter results on October 19th, 2022.  The Company posted a loss after tax of PKR 4,644 million for the quarter, which translated into a cumulative profit after tax of PKR 2,863 million for the nine months as compared to last year’s profit after tax of PKR 297 million and PKR 2,447 million for the quarter and nine months respectively.  … Continue

The management of Mari Petroleum Company Limited held a Corporate Briefing session on 14th Oct’22 to discuss the FY22 financial result and future outlook of the company.

 Brief Takeaways

·        To recall, the company posted a profit after tax (PAT) of PKR 33bn (EPS: PKR 247.84) in FY22 against PKR 31bnn (EPS: PKR 235.71) in FY21, up by 5% YoY.… Continue

·         4QFY22 marked a phenomenal period for the Exploration & Production sector, with macros providing the much-needed tailwind to the sector in the face of lackluster production statistics.

·         AKD’s E&P Universe Net sales rose by 11.1%QoQ/62.3%YoY in 4QFY22, clocking in at PkR198.6bn.… Continue

Sui Northern Gas Pipelines Limited (SNGP) announced the financial result for 9MFY22 today, posting a profit after tax (PAT) of PKR 9,437mn (EPS: PKR 14.88) compared to PKR 8,939mn (EPS: PKR 14.09) in SPLY. During the second quarter of FY22, the company posted earnings of PKR 3,854mn (EPS: PKR 6.08) while profitability for 3QFY22 arrived at PKR 2,551mn (EPS: PKR 4.02).… Continue

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