Petroleum sales declined by 6% YoY to 1.35mn MT in Jul'23 with the decline largely attributable to a plunge in FO volumes by 59% YoY due to lower offtake by…

Mr. Irfan Iqbal Sheikh, President FPCCI, has strongly condemned the massive hike in petroleum products, i.e. petrol by PKR. 19.95 per liter to make it 272.95 & high speed diesel…

Total sales of petroleum settled at 1.34mn tons in Jun'23, declining by 31% YoY which is mainly on account of i) higher petroleum prices, ii) economic slowdown, iii) jump in…

Oil and Gas Development Company Limited (OGDCL), Pakistan's leading exploration and production company, has revived the Jhal Magsi Gas project to meet the country's growing energy demands. The state-of-the-art gas…

Sui Northern Gas Pipelines Limited (SNGP) announced the financial result for FY22 today, posting a profit after tax (PAT) of PKR 10,366mn (EPS: PKR 16.34), dropping by 6% YoY. During…

Pakistan State Oil (PSO) conducted a corporate briefing on 9MFY23 performance to discuss current and future operational dynamics. Regarding the buildup of gas circular debt, the management mentioned that the…

Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Wednesday welcomed the announcement of…

By the grace of Almighty Allah, Oil and Gas Development Company Limited (OGDCL), the operator of the Wali (Bettani) Exploration License with a 100% working interest, is delighted to announce…

Shell Petroleum Company Limited, a subsidiary of Shell plc (Shell), has announced its intention to sell its holding in Shell Pakistan Limited (SPL), simplifying Shell's portfolio. Shell Pakistan has been…

In a landmark partnership, the Oil & Gas Development Company Limited (OGDCL) has joined hands with the Lahore University of Management Sciences (LUMS) Rausing Executive Development Centre (REDC) for the…

With eleven months of the fiscal year behind us, the prominence of oil marketing companies has diminished greatly since the calendar year began. The sector has lost 12.1% in market…

Total petroleum sales arrived at 1.30mn tons in May'23, plunging by 40% YoY which is mainly on account of i) surge in petroleum prices, ii) slowdown in the economy, iii)…

· Global prices of diesel and petrol have corrected significantly by ~46% and 50% since the start of the calendar year to presently stand at US$86/90 per bbl · Naturally,…

Vice Chairman of Pakistan Petroleum Dealers Association (PPDA) Malik Khuda Bakhsh, while appreciating the government's decision to postpone the implementation of the cheap petrol scheme until the concerns are removed,…

· Crude prices have remained relatively volatile, with three consecutive weeks of decline followed by a partial recovery after crashing by as much as 11% b/w April and May'23. ·…

The management of SSGC held a corporate briefing session on 8th May'23 to discuss the company's future outlook.  Brief Takeaways · The last announced the financial result of SSGC was…

· Pakistan's two state-owned companies, SSGC and SNGP, are responsible for downstream gas distribution in the country's regulated environment. Their profits are tied to rates of return on operating fixed…

Pakistan Petroleum Limited (PPL), a National E&P Company and one of the largest corporate donors has recently funded a science laboratory at Akhuwat College in Kasur to facilitate hands-on science-based…

We reiterate our BUY call for Sui Northern Gas Pipelines Limited (SNGP) with our DCF-based Dec'23 target price set at PKR 69.48/share. At current levels, the scrip offers an upside…

· April'23 volumetric offtakes clocked in at 1.17mn tons, changing by +6%/-47% on a MoM/YoY basis, with HSD and FO leading the decline (down 50%/84%YoY). · The ongoing season has…

The Board of Directors of Shell Pakistan Limited (SPL) announced the first quarter results for the company on 4th May. The company posted a loss after tax of PKR 4,762…

Total sales of petroleum products arrived at 1.17mn tons in Apr'23, depicting a massive dip of 46% YoY which is majorly attributable to i) higher petroleum prices, ii) economic slowdown,…

Mari Petroleum Company Limited (MARI) announced its financial result today, posting a net profit of PKR 40,291mn (EPS: PKR 302.03) during 9MFY23 compared to PKR 27,459mn (EPS: PKR 205.84) in…

Pakistan State Oil (PSO) exhibited exceptional resilience and reported a net profit of PKR 10.3 billion (9MFY22: PKR 64.8 billion) with Earnings Per Share of PKR 21.9. The company's strong…

As per latest financial result announcement, Pakistan Petroleum Limited (PPL) posted a profit after tax of PKR 81,835mn (EPS: PKR 30.08) during 9MFY23 versus PKR 52,329mn (EPS: PKR 19.23) in…