Pakistan Petroleum Ltd earns Rs99bn profit, makes 11 discoveries
KARACHI: Pakistan Petroleum Ltd (PPL) posted profit after tax of Rs99 billion and recorded its highest-ever collections of Rs284bn in FY26. This was disclosed at PPL’s 75th annual general meeting on Tuesday, attended by a large number of shareholders who approved the financial statements for FY26 along with the auditors’ and directors’ reports. A final cash dividend of 60pc on ordinary shares was…
Pakistan Petroleum Ltd (PPL) reported a substantial profit of Rs99 billion and achieved its highest collection of Rs284 billion in the fiscal year 2026 (FY26). The company's 75th annual general meeting, held on Tuesday, saw shareholders approve the financial statements and dividend allocations. PPL decided to pay a final cash dividend of 60% on ordinary shares, bringing the total dividend for the year to 120%.
The firm ventured into 7 exploration and 4 development wells, with average production maintaining a slight increase of 3% compared to the previous year, despite gas curtailment. During FY26, the company made 11 discoveries — consisting of 2 in operated assets and 9 in partner-operated assets, adding 242 billion cubic feet (BCF) to the reserves.
PPL secured eight offshore blocks, including two as operator and six as partner, following their successful participation in Pakistan's Offshore Bidding Round 2025. Managing Director and Chief Executive Officer Khalid Abdul Rehman stated that the farm-out agreement with Turkish Petroleum Overseas Company for the Eastern Offshore Indus Block C further strengthened the Pakistan-Türkiye energy cooperation.
This development continues PPL's commitment to operating in the Offshore Block 5 in Abu Dhabi through its operated subsidiary, Pakistan International Oil Ltd. The company is also expanding into minerals and evaluating opportunities across the broader energy value chain. The BLZ project is in the execution phase, while the mineral exploration footprint has been expanded in Chagai and opportunities are being evaluated in Khyber Pakhtunkhwa.
Despite the geopolitical uncertainties, volatile energy markets, gas curtailment, and security challenges, PPL has shown resilience and maintained focus on operational efficiency and financial discipline to achieve its key milestones.
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