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…

·         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…

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…

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…

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…

Minister of State (Petroleum Division), Ministry of Energy, Mr. Musadik Malik visited PSO's Head Office in Karachi. Managing Director & CEO, Pakistan State Oil (PSO), Syed Taha welcomed the honorable…

As per the latest announcement by MARI, further hydrocarbon discovery has been made at Bannu West-1 at Bannu Block at North Wazirstan located in KPK Province. Previously, the company discovered…

MARI held its Corporate Briefing Session on June 24 to discuss the performance and outlook after the 9MFY22 results. The company posted an 18% rise in earnings during 9MFY22 to…

·         We have revised our oil price and PkR/US$ estimates to build in current macro outlook in our models. Consequently, we have revised our oil assumptions for FY23 and FY24 to…

·         Total OMC volumes clocked in at 2.17mn tons for May'22, up 28%YoY while on a MoM basis, sales saw a slight fall of 2%. The majority of YoY increase was…

According to news sources, Petroleum Division is currently seeking the Economic Coordination Committee's approval for the conversion of TFCs worth PKR 202.8bn of OGDC owed by Power Holding Private Limited…

The government of Pakistan (GoP) has decided to increase the prices of Petrol (MOGAS), High-Speed Diesel (HSD) & other petroleum products by Rs30/ltr. The new prices effective from 27th May-22 are…

The Commandant Police Training College DIG Mahboob Aslam and the Chief Executive & Managing Director of Shell Pakistan Limited, Waqar Siddiqui, inaugurated a trainees hostel at National Highways and Motorway…

Total Petroleum sales arrived at 2.18mn tons in Apr'22, witnessing a jump of 30% YoY and 19% MoM. The growth in sales volumes was primarily attributable to i) jump in…

Oil & Gas Development Company Limited (OGDC) announced its financial result today, posting a profit after tax of PKR 43,161mn (EPS: PKR 10.04) during 3QFY22 compared to PKR 24,121mn (EPS:…

Pakistan Petroleum Limited (PPL) is expected to announce its 9MFY22's financial result on 27th Apr'22, where we project the company's bottom-line to clock in at PKR 51,691mn (EPS: PKR 19.00)…

Oil & Gas Development Company Limited (OGDC) is scheduled to announce its 9MFY22's financial result on 28th Apr'22, where we expect earnings to settle at PKR 109,968mn (EPS: PKR 25.57),…

Oil Companies Advisory Council (OCAC), the primary representative of the downstream oil industry of Pakistan, has reported that ample stocks of Motor Spirit (MS) & High Speed Diesel (HSD) are…

The Board of Directors of Shell Pakistan Limited (SPL) announced the first quarter results for the company on 21st April. The company posted a profit after tax of PKR 2,079…

Ministry of Petroleum, DGPC had opened bids for 14 onshore Blocks for grant of Petroleum Exploration Rights through open bidding on April 18, 2022 at Petroleum House, Islamabad. Bids were…

Total Petroleum sales arrived at 1.82mn tons in Mar'22, witnessing a jump of 23% YoY and 19% MoM (due to extra working days compared to February). The growth in sales…

Shell Pakistan Limited (SPL) inaugurated its 2nd 'Integrated Retail Outlet' (IRO) in Karachi, located strategically on M9 Motorway that connects the largest port city to the rest of the country.…

Pakistan's largest energy company - Pakistan State Oil (PSO), signs Fuel Supply and Technical Services Agreements with TotalEnergies Aviation (TEA) at their headquarters at La Defense Paris France. The agreements…

We are revising up our earnings estimates for Pakistan State Oil (PSO) for FY22E and FY23F to Rs119/sh and Rs74/sh vs. our previous estimate of Rs45/sh and Rs50/sh, respectively. This…