Pakistan Petroleum Ltd Reports Rs99bn Profit and 11 New Discoveries
KARACHI: Pakistan Petroleum Ltd (PPL) has announced a remarkable profit after tax of Rs99 billion for the fiscal year 2026, alongside record collections of Rs284 billion. This significant achievement was revealed during PPL’s 75th annual general meeting held on Tuesday, where shareholders approved the financial statements and reports from auditors and directors.
During the meeting, a final cash dividend of 60% on ordinary shares was sanctioned, culminating in a total dividend of 120% for the year. PPL’s operational performance included drilling seven exploration and four development wells, with average production reaching 649 million cubic feet per day (mmcfd), marking a 3% increase from the previous year despite ongoing gas curtailment challenges.
PPL’s exploration efforts yielded 11 discoveries—two in operated assets and nine in partner-operated assets—adding an impressive 242 billion cubic feet (BCF) to its proven reserves. The company also secured eight offshore blocks, including two as operator and six as partner, following its successful participation in Pakistan’s Offshore Bidding Round 2025. Managing Director and CEO Khalid Abdul Rehman emphasized that the farm-out agreement with Turkish Petroleum Overseas Company for the Eastern Offshore Indus Block C has further solidified the energy partnership between Pakistan and TĂĽrkiye.
Looking ahead, PPL is poised to enhance its exploration activities and production capabilities, which could have significant implications for Pakistan’s energy landscape and economic stability. The company’s strategic initiatives are expected to contribute positively to the national economy and energy security in the coming years.