Day: February 16, 2026

Pakistan Petroleum Limited (PSX: PPL) reported a softer earnings performance in 1HFY26, as a modest decline in revenue, rising operating costs, and a sharp drop in other income weighed on profitability despite the company remaining solidly in the black. During the first half of FY26, revenue from contracts with customers fell 7 percent year-on-year. The decline in the topline proved significant, particularly as the company’s cost structure did not adjust proportionately. While royalties and levies declined 10 percent year-on-year, offering partial relief, operating expenses rose 10 percent, resulting in margin…

ISLAMABAD: The Petroleum Division is facing a complex policy challenge after the Independent System and Market Operator (ISMO) sought further reductions in nearly 10 additional RLNG cargoes for 2026—beyond already adjusted volumes—raising concerns about a potential breach of the Integrated Generation Capacity Expansion Plan (IGCEP). According to senior officials, Special Secretary Petroleum Mirza Nasiruddin Mashhood Ahmad, in a letter to the Power Division, referred to ISMO’s December 13, 2025 communication that revised downward the RLNG demand for the power sector for calendar year 2026. Under long-term LNG Sale and Purchase…