Pakistan Petroleum Limited (PPL) Reports Impressive 44% Surge in Half-Year Profits

PPL-achieves

Pakistan Petroleum Limited (PPL), a prominent natural gas supplier in the country, has announced a significant uptick in its profit-after-tax (PAT) for the half-year ended December 31, 2023. The company’s PAT surged by nearly 44%, reaching Rs69.78 billion compared to Rs48.49 billion in the corresponding period last year. The boost in profits was attributed to increased sales and substantial improvements…

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Pakistan Petroleum Limited Successfully Tests Gas Well in Adam D&PL Area, Boosting Energy Sector Amid Crisis

PPL-achieves

Pakistan Petroleum Limited (PPL) announced on Tuesday the successful drilling and testing of a gas well in the Adam D&PL Area, located in the Hala Block of Sindh province. The company disclosed this development in a notice to the Pakistan Stock Exchange (PSX). Operating with a 65 percent stake in the block, PPL described the Adam-2 well as a challenging…

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Renewal of Sui Mining Lease (Sui ML) Agreement between Balochistan Government and PPL Decided

Gas-Project

The federal government has made the decision to renew the Sui Mining Lease (Sui ML) agreement between the Government of Balochistan and Pakistan Petroleum Limited (PPL) for a duration of 10 years, commencing from June 1, 2015, to May 31, 2025. This renewal entails a firm payment of Rs 36 billion and a contingent payment of Rs 24 billion, totaling…

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PPL-funded Women Vocational Training Centre in Punjab commences operations

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Karachi: January 22, 2024: The Pakistan Petroleum Limited-financed Women Vocational Training Centre (WVTC) in District Okara, Punjab has commenced operations. An amount of Rs. 50 million has been allotted by PPL for the project over a five-year period with the first tranche of Rs. 10 million already handed over to Behbud Association of Pakistan (BAP), the implementing partner. The project will impart vocational training to around 3,000…

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OGDCL, PPL, POL win four exploration blocks

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KARACHI: The ministry of Energy has provisionally awarded four new oil and gas exploration blocks to three local companies, according to a stock exchange filing by one of the winners on Thursday. Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), and Pakistan Oilfields Limited (POL) won the blocks in a competitive bidding round held by the government…

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Pakistan, Saudi Arabia eye Reko Diq deal at Riyadh mineral forum

Reko-Diq

Saudi Arabia is seeking to attract SR63.7bn worth of investment in mining industry by 2030 to help country capitalize on its wealth of mineral resources ISLAMABAD: Pakistan and Saudi Arabia are expected to make progress on a potential investment deal in the Reko Diq copper and gold project during a three-day mineral forum that began on Tuesday in Riyadh, an…

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PAKISTAN’S MAJOR E&P COMPANIES SIGN DECARBONIZATION CHARTER OGDCL, PPL, AND GHPL FORGE PATH TO ENVIRONMENTAL EXCELLENCE AT COP28

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ISLAMABAD, December 07, 2023: In a significant stride towards sustainable energy practices, Pakistan’s leading Exploration and Production (E&P) companies, OGDCL, PPL, and GHPL, joined forces for environmental responsibility. At the United Nations Climate Change Conference (COP28) held in Dubai, these E&P companies participated actively in the conference and exhibition, engaging with global stakeholders at the Pakistan Pavilion.During the conference, OGDCL,…

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PPL begins oil and gas production from new well in Punjab

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KARACHI: Pakistan Petroleum Limited (PPL) said on Friday it had started production of oil and gas from a new well in the Pothwar region of Punjab The company, which operates the Adhi Mining Lease with joint venture partners Oil & Gas Development Company Ltd (OGDCL) and Pakistan Oilfield Ltd (POL), said the Adhi South-6 well was drilled to a depth…

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PPL achieves production enhancement milestone

PPL-achieves

Karachi, October 10, 2023: Pakistan Petroleum Limited (PPL) has achieved significant production gain of 13 MMscfd gas and 90 bpd condensate from existing wells through a rigless production enhancement campaign. The company is vigorously pursuing production enhancement utilizing latest techniques and production optimizations efforts. These initiatives were successfully carried out on a number of wells in Sui Gas Field, Gambat…

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SIFC identifies 20 projects to woo foreign investors

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ISLAMABAD: The much-trumpeted Special Investment Facilitation Council (SIFC) has so far identified and approved 20 projects for attracting multibillion-dollar investments from the Gulf states and others, out of which nine have been converted to the required template. It has also been considered to hold a study to explore the availability of lithium in Pakistan and joint investment in Afghanistan. The…

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