Pakistan Petroleum Ltd earns Rs99bn profit, makes 11 discoveries

Pakistan Petroleum Ltd reported Rs99 billion in profit after tax for FY26 and collections of Rs284bn, a company record, Dawn reported. Shareholders at its 75th annual general meeting approved the year’s financial statements and a final cash dividend of 60pc on ordinary shares, taking the full-year payout to 120pc.

The company said production averaged 649mmcfd, about 3pc above the prior year despite gas curtailment, and it made 11 discoveries that added 242 BCF to 2P reserves. PPL also drilled seven exploration wells and four development wells, and secured interests in eight offshore blocks after Pakistan’s 2025 offshore bidding round. It is expanding into minerals, with the BLZ project in execution and exploration activity extended in Chagai.

Managing Director and CEO Khalid Abdul Rehman cited energy-market volatility, mature-field declines, security issues and circular debt among the challenges facing the business. He also pointed to a farm-out agreement with Turkish Petroleum Overseas Company for Eastern Offshore Indus Block C and ongoing development at Offshore Block 5 in Abu Dhabi.