Pakistan News

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  • PPL discovers gas in Matiari

    ISLAMABAD: The Pakistan Petroleum Limited (PPL) on Tuesday announced a gas discovery at its exploration well in District Matiari of Sindh...

    In a statement after regulatory approval from the federal government’s directorate general of petroleum concessions, the PPL said it discovered gas at its exploration well Hatim X-1 of Gambat South Block...

  • PPL earnings jump; Hubco profit slips

    KARACHI: Pakistan Petroleum Ltd (PPL) on Thursday reported that its earnings per share (eps) for the third quarter (3QFY17) of this fiscal year recorded an increase of 87 per cent year-on-year (YoY) to Rs3...

    PPL’s earnings grew mainly on the back of 31pc growth in revenues...

  • PPL board restructured; four new directors inducted

    ISLAMABAD: The government has restructured the board of directors of Pakistan Petroleum Limited (PPL) by adding four choice members of Prime Minister Shahid Khaqan Abbasi...

    In a notification issued by the Ministry of Energy on Wednesday, the number of public sector members on the PPL board has been increased, those from the private sector reduced and for the first time Director General Petroleum Conce­ssions (DGPC) has been excluded...

  • PPL Blind Cricket Championship inaugurated

    ISLAMABAD: The 1st Pakistan Petroleum Limited (PPL) Blind Cricket Championship 2017, organized by Islamabad Cricket Club of the Blind (ICCB), was inaugurated at Bhutto Cricket Ground...

    Deputy Managing Director PPL Moin Raza Khan, as chief guest, officially opened the tournament by hitting a ball in the presence of officials from both PPL and ICCB as well as spectators at the stadium...

  • PPL discovers gas in Sanghar

    KARACHI: Pakistan Petroleum Ltd (PPL), the operator of Gambit South Exploration Licence holding a 65 per cent working interest, said on Friday that hydrocarbon (gas) was discovered from its exploratory well Hadi X-1A, located in district Sanghar, Sindh...

    However, further evaluation is required to determine the size and commerciality of the discovery based on geological, geophysical and engineering data collected during drilling and...

  • PPL reverts to 2012 oil policy

    ON November 5, Pakistan Petroleum Limited surprised the market by announcing that it had opted to convert to the Exploration and Production Policy 2012 for concessions operated by it as well as for those concessions where it is a joint venture partner with other operators...

    In a filing with the stock exchange, PPL explained that “the effect of the conversion would be that in the event of a new discovery in any new exploratory effort...

  • PAC clears audit objections on PPL appointments made by PPP govt

    ISLAMABAD: The Public Accounts Committee (PAC) cleared the audit objection over ‘irregular’ appointments made in the Pakistan Petroleum Limited (PPL) during the PPP government...

    As per audit para, the PPL, a subsidiary of the Ministry of Petroleum and Natural Resources, had recruited 73 officers in 2009-10 for different positions at salaries ranging between Rs40,000 and Rs540,000 with the annual impact of Rs7...

  • PPL approves 40pc cash dividend

    KARACHI: The 64th annual general meeting of Pakistan Petroleum Limited (PPL) approved on Wednesday payment of final cash dividend of 40 per cent on ordinary share capital...

    PPL has been restructured from a functional matrix to an asset-based hybrid to meet ambitious business targets, he added...

  • PPL quarterly profit down 5.91pc

    KARACHI: Pakistan Pet­ro­leum Limited (PPL) ann­ounced on Tuesday a consolidated profit-after-tax (PAT) of Rs5...

    PPL had booked higher field expenditures last year owing to increase in seismic acquisition cost in respect of Sadiqabad, Shah Bandar, Bela West, Naushahro Firoz, Khipro East and Ghauri blocks...

  • PPL discovers gas in Balochistan

    KARACHI: Pakistan Petroleum Limited (PPL), operator of Hub Block (2566-4), together with its joint venture partner Sindh Energy Holding Company Ltd, has discovered hydrocarbons from exploratory well Hub X-1, located in District Lasbela, Balochistan...

    PPL, in a statement, said the Hub X-1 discovery is too small to have any commercial significance...

  • PPL discovers oil, gas in Kotri Block

    KARACHI: Pakistan Petroleum Ltd announced on Monday that it has made a gas and condensate discovery at exploratory well Yasar X-1 from its wholly-operated Kotri Block (2468-12) in Sujjawal, Sindh,Yasar X-1 was spud on June 22 and reached a final depth of 2,720 metres on July 10...

  • PPL discovers oil, gas in Gambat block

    KARACHI: Pakistan Petroleum Ltd (PPL), operator of exploratory well in Gambat South Block together with its joint venture partners Government Holdings Private Ltd and Asia Resources Oil Ltd, has discovered hydrocarbons from exploratory well Badeel X-1, located in Sanghar, Sindh...

    PPL earlier this month reported discovery of hydrocarbons from the exploratory well Yasar X-1, Sujjawal, Sindh...

  • SC receives NAB inquiry report against PPL about MND acquisition

    ISLAMABAD: The Nat­ional Accountability Bureau (NAB) on Saturday furnished a report before the Supreme Court highlighting ongoing inquiries against the Pak­istan Petroleum Limited (PPL) about acquisition of MND Exploration and Production...

    The report was submitted by NAB in response to an earlier direction by the apex court to come up with particulars about the pending inquiries and investigations into a case relating to the...

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