Pakistan Petroleum Earns Pkr16.9bn in July-Sep 2021

Pakistan Petroleum Ltd earns Pkr16.9 billions for July-September 2021, with an increase of 18% from the same period of last year 2020.

A bourse filing showed its net sales increased 10% year-on-year to Pkr43.1 billions against Pkr39.2 billions in the same period of last year.

According to Arif Habib Ltd, the rise in the Pakistan Petroleum earnings was because of a 70% year-on-year surge in oil prices and 5% higher wellhead price for the Sui gas field. Oil and gas production, however, witnessed a fall of 7% and 8%, respectively.

Exploration costs increased 2 times to Pkr4.7 billions against Pkr 2.2 billions a year ago.