Pakistan's listed oil and gas sector earnings rise 43% to Rs113.4 billion in 1QFY27

Profit by Pakistan Today reported that listed oil and gas exploration companies earned Rs113.4 billion in 1QFY27, 43% more than a year earlier but 47% below the previous quarter. Sales reached Rs279.1 billion, rising 32% year on year and slipping 9% sequentially. Topline Research linked the annual gains chiefly to stronger global oil and gas prices; the quarterly retreat followed weaker oil prices and a tax reversal in the prior period.

OGDC’s profit increased 53% year on year, and it announced Rs5 per share in dividends; PPL’s earnings rose 25%, with a Rs2 per-share payout. MARI and POL recorded annual earnings growth of 36% and 51%, respectively, though both had lower profits than in the preceding quarter. Sector dividends totalled Rs26.9 billion, up 31% annually, while the overall payout ratio was 23.7%. The results also included OGRA wellhead price revisions for selected fields and one dry well at a PPL-operated site.