Oil & Gas Development Company witnessing a jump of 46% in net profit, YoY

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

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APL’s market share for FY22 stands at 10%

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

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Pakistan Oilfields Limited – a review of financial results FY22

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

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Pakistan Petroleum bottom-line during 4QFY22 down by a massive 91%

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

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OGDC to announce a cash dividend of PKR 3.00/share

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

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PPL: Earnings likely to grow by 22% YoY in FY22

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

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Pakistan OMCs sales at 1.5mn tons in Aug-2022, up 6% MoM

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

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Up and down story of Hascol Petroleum in Pakistan – future plans

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

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Pakistan’s Oil & Gas reserves decline by 7% YoY in Jun’22

 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

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Sui Northern Gas Pipeline is looking to diversify into LPG business

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

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PSO to announce a cash dividend of PKR 30.00/share.

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

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Shell Pakistan to discontinue its aviation operations across Pakistan

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

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Attock Petroleum posted a PAT of PKR 18,536mn, up by 277% YoY.

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

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Pakistan Oilfields posts NPAT of PkR25,935 mn for FY22, higher by 95%

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

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APL to announce its FY22 financial result tomorrow

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

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POL to announce a final cash dividend of PKR 60.00/share

Pakistan Oilfields Limited (POL) schedules to announce its financial result for FY22 on 16th Aug’22, where we project the company to post a profit after tax of PKR 25,013mn  (EPS: PKR 88.12), registering a surge of 87% YoY. The ascend in net profit comes from a 67% YoY hike in average realized oil prices tagged with a 10% YoY Pak Rupee depreciation against the greenback.… Continue

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APL to announce 4QFY22 result on Aug 16

· 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

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Sui Northern Gas Pipelines Company wins international litigation against QATPL

· 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

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KATI forms a 7-member committee to help the floods victims in Balochistan

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

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Mari Petroleum Company to announce its FY22’s financial result tomorrow

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

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Pakistan oil marketing sales drop to ~1.5 years low to 1.4mn tons in July 2022

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

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PSO expected 4QFY22 result preview

·         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

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Pakistan oil marketing sees a growth of 16% YoY in FY22

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

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Shell Pakistan appoints Burque Corporation as distributor in Quetta for Lubricants.

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

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PSO has added 39 new retail outlets during 9MFY22

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

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