Pakistan Refinery Ltd (PRL) said it remains committed to executing the Refinery Expansion and Upgrade Project (REUP), which will double. The refinery's crude processing capacity is from 50,000 to 100,000…
Tariq Kirmani, Chairman of Pakistan Refinery Limited (PRL) and Zahid Mir, Managing Director/CEO of PRL, have shared the salient feature of the PRL expansion project, costing US$1.7 billion at the…
The long-standing circular debt issue appears to be headed for partial resolution, with the Ministry of Energy reportedly finalizing a PKR1,263bn settlement plan (gross). This entails the government issuing PKR157bn against…
Total Petroleum Sales during Dec'23 clocked in at 1.24mn tons, showcasing a decline of 7% YoY. The reduction in sales comes on account of i) surge in price of petroleum…
In a surprise move, Saudi Aramco has reportedly acquired a 40% stake in Gas & Oil Pakistan Ltd (GO Petroleum). This is the second major development in Pakistan's oil marketing…
Pakistan Stock Exchange Limited has been informed that a Joint Venture of Dars West Development and Production Lease (D&PL) comprising Oil & Gas Development Company Limited (OGDCL) as Operator (77.5…
Pakistan OMC's recorded sales of 1.4mn tons up 9% MoM while Ex-Furnace Oil (FO) sales up 7% MoM in Nov-2023. The MoM jump in sales is due to lower Petrol…
We revise our OMC Universe estimates while maintaining a Buy rating. Our revised EPS estimates for PSO and APL in FY24f/FY25f are PKR106.14/98.91 and PKR109.52/95.61, Jun'24 revised TPs are PKR281…
OGDC held its analyst briefing today to brief investors about FY23 results and future outlook: Bettani was a significant milestone during the year, with the well yielding 880bpd/12.5mmcfd of oil/gas,…
Production Commencement from New Development Well Adhi South-6 As part of our continuous efforts to increase oil and gas production, PPL is pleased to disclose encouraging development about the commencement…
SHEL conducted its analyst briefing today to brief investors about 9MCY23 results and shed light on the future outlook: · To note, the company's EPS and revenues stood at PkR30.14…
Pakistan Petroleum Limited (Company) has made a gas & condensate discovery from exploration well Jhim East X-1, in Block 2467-16 (Shah Bandar), located in District Sujawal, Sindh Province. This is…
APL has demonstrated consistent progress in terms of expanding retail presence, averaging 31 new outlets annually since FY16, alongside expanding and revamping product storage facilities at a similar pace. · APL…
Provincial Minister for Revenue, Industries, and Commerce Muhammad Younus Dagha has said that worldwide gas tariff for industries is subsidized. At the same time, residential consumers are subjected to higher…
The management of Pakistan Petroleum Limited held a Corporate Briefing session on 15th Nov'23 to discuss the FY23 financial result and future outlook of the company. Highlights To recall, the…
· Management stated that LC and payment issues were prevalent throughout the year. Additionally, company encountered challenges related to non-upliftment of the RFO largely during winter periods. To address this,…
§ After much deliberation, OGRA notified the gas tariff for consumers which is effected from 01 Nov 2023. § To recall, the Economic Coordination Committee approved the much-awaited gas tariff hike on 23rd Oct. In…
Pakistan OMC's recorded sales of 1.3mn tons, up 19% MoM and Ex-Furnace Oil (FO) sales up 24% MoM in Oct-2023. The MoM jump in sales is due to low base…
Shell Petroleum Company Limited, a subsidiary of Shell plc (Shell), has agreed to sell its 77.42% majority interest in Shell Pakistan Limited (SPL) to Wafi Energy LLC. The sale is…
National Refinery Limited (NRL) conducted its analyst briefing today to present investors with updates on their FY23 results and offer insights into the future outlook: More recently, the company, along…
Pakistan State Oil (PSO), the national energy icon, has showcased its unwavering determination and resilience by achieving remarkable milestones in the first quarter of the financial year 2023-2024. In this…
Pakistan State Oil Company Limited (PSO) announced its financial result for 1QFY24 whereby the company posted a profit after tax (PAT) of PKR 21.9bn (EPS: PKR 46.62) compared to profit…
Pakistan State Oil (PSO) is expected to announce its 1QFY24 financial result on 20th October, where we expect the company to post PAT of PkR18.3bn (EPS: PkR39.0), higher by 14.0xYoY…
The Board of Directors of Shell Pakistan Limited (SPL) announced nine months' results for the company on October 18th, 2023. The company successfully delivered a profit after tax of PKR…
Pakistan recorded monthly OMC sales of 1.06mn tons, down significantly by 31% YoY and 25% MoM in Sep 2023, the lowest level since COVID lockdown in March 2020. This decline…
