Tag: Pol
PPL and POL steal the limelight
KARACHI - In wake of a recent fall in respective stock prices, healthy 1HFY11 results, active exploration potential and recent hike in oil prices, Pakistan Petroleum Limited (PPL) and Pakistan Oilfields Limited (POL) have remained attractive stocks. In addition, new production flows, nine percent higher Arab Light prices and an upward revision in gas wellhead prices have also contributed to the profit growth of the two companies.
PPL and POL are direct beneficiaries of the two
PPL and POL are direct beneficiaries of the two
POL discovers gas in TAL Block
KARACHI - In a notice issued in Karachi Stock Exchange, Pakistan Oilfields Limited (POL) has disclosed the discovery of 16.3 MMCFD of gas. This find was made in Tolanj X-1 well of TAL Block.
According to Shahbaz Ashraf at AHL this would result in an Earning per Share (EPS) impact of Rs 0.05, Rs 0.23, Rs 0.73 on Oil and Gas Development Company (OGDC) with a 28 percent stake, Pakistan Petroleum Limited (PPL) with 28 percent stake and POL owning a 21 percent stake, respectively.
According to Shahbaz Ashraf at AHL this would result in an Earning per Share (EPS) impact of Rs 0.05, Rs 0.23, Rs 0.73 on Oil and Gas Development Company (OGDC) with a 28 percent stake, Pakistan Petroleum Limited (PPL) with 28 percent stake and POL owning a 21 percent stake, respectively.
POL prices unchanged for February
ISLAMABAD - After refusal by the political parties to support any move to increase the petroleum prices, the government on Monday decided to maintain them at the level of December 2010. Addressing a press conference here late Monday night, Oil and Gas Regulatory Authority (OGRA) Executive Director Syed Javed Nasim said no change had been made in the petroleum prices despite the fact that they had surged in the international market.
A source told Pakistan Today that the government
A source told Pakistan Today that the government
Govt will try to raise POL prices on 31st
ISLAMABAD - Another showdown between the government and opposition parties is expected as the cash-strapped administration is likely to launch another push for an increase in the prices of petroleum products on January 31.
The government will again be walking a tightrope when the proposal is presented during the meeting of the parliamentary committee that will review the petroleum products pricing mechanism and also during the PPP-PML-N talks on proposed economic reforms. An
The government will again be walking a tightrope when the proposal is presented during the meeting of the parliamentary committee that will review the petroleum products pricing mechanism and also during the PPP-PML-N talks on proposed economic reforms. An
Opposition rejects higher POL prices
ISLAMABAD - The political parties in the opposition on Thursday refused to allow the government's planned increase of 13 percent in petroleum prices from February 1 and recommended that the burgeoning fiscal deficit be curtailed with better financial management.
According to a source, the Ministry of Petroleum had informed the committee that they were compelled to increase the petrol price by 13 percent to Rs 9.43 per litre and diesel price by 12 percent to Rs 9.20 per litre from
According to a source, the Ministry of Petroleum had informed the committee that they were compelled to increase the petrol price by 13 percent to Rs 9.43 per litre and diesel price by 12 percent to Rs 9.20 per litre from
Parliamentary body rejects hike in POL prices
ISLAMABAD - The parliamentary committee formed to settle the petroleum products pricing formula has expressed dissatisfaction over the Ministry of Petroleum's presentation, opposed any hikes and has sought replies on various queries by Thursday.
A source said the committee members criticized the government mechanism of passing on the increase in international oil prices to the consumers, without bothering to consider providing relief through the petroleum levy (PL) and general
A source said the committee members criticized the government mechanism of passing on the increase in international oil prices to the consumers, without bothering to consider providing relief through the petroleum levy (PL) and general
POL powers ahead as output rises
KARACHI - Steady gains in the output at TAL block, in which Pakistan Oilfields (POL) has a stake of 21 percent, is likely to further boost production during second half of the Financial Year 2011 as Mamikhel has already been connected with Manzalai.
Production at Maramzai started in early January this year but the facility has been shut down for an indefinite period due to security concerns. POL is scheduled to announce its financial results for the second quarter of FY11 on
Production at Maramzai started in early January this year but the facility has been shut down for an indefinite period due to security concerns. POL is scheduled to announce its financial results for the second quarter of FY11 on
POL profits likely to surge by 56 percent
KARACHI - Pakistan Oilfields Limited (POL) is likely to earn a profit after tax (PAT) of Rs 5,165 million with earnings per share of Rs 21.84, a phenomenal 56 percent annual rise. This massive rise is largely driven by an annual rise in oil and gas production of 12 percent and 82 percent respectively.
Net revenue of the company is estimated to rise by an annual 38 percent to Rs 11,294 million compared to Rs 8,173 million recorded in the same period last year. The phenomenal jump
Net revenue of the company is estimated to rise by an annual 38 percent to Rs 11,294 million compared to Rs 8,173 million recorded in the same period last year. The phenomenal jump
POL U-turn: short term relief
KARACHI - The government is likely to suffer a potential revenue loss of Rs 28.9 billion in the second half of financial year 2011 if oil prices sustained current levels. The government had to slash Petroleum Levy (PL) on different products in order to keep petroleum prices stagnant.
Market analysts lamented that the government's decision to withdraw an increase in petroleum products prices will only be a short-term relief. However, in the long-run it has far reaching
Market analysts lamented that the government's decision to withdraw an increase in petroleum products prices will only be a short-term relief. However, in the long-run it has far reaching
POL import bill may balloon to $12.5 billion in FY11
KARACHI - Pakistan's imports of POL products in 2010-11 could hit its highest mark of $12.50 billion if crude oil prices stayed at around $90 per barrel. The POL imports bill aggregated to around $10.60 billion in 2009-2010, however, it might balloon to $12.50 billion in 2010-11. Oil prices have averaged $79.5 per barrel and the oil import bill for the fifth month of 2011 stood at $4.3 billion, up 13 percent from the corresponding period last year.
"A sensitivity analysis was
"A sensitivity analysis was
OGRA chief, others summoned over POL products price hike
KARACHI - The Sindh High Court (SHC) on Tuesday summoned the Oil and Gas Regulatory Authority (OGRA) chairman, federal Finance and Law secretaries, the deputy attorney general and other respondents over a petition against the increase in the prices of petroleum products.
After hearing the preliminary comments of Maulvi Iqbal Hyder, the petitioner, a division bench headed by SHC Chief Justice Sarmad Jalal Osmany issued notices to the respondents seeking explanation in this
After hearing the preliminary comments of Maulvi Iqbal Hyder, the petitioner, a division bench headed by SHC Chief Justice Sarmad Jalal Osmany issued notices to the respondents seeking explanation in this
PIAF denounces POL price increase
LAHORE - Pakistan Industrial and Traders Association Front (PIAF) has urged the Prime Minister to reject the proposal for hike in prices of petroleum products and electricity tariff as it would be a major blow for the crippling economy.
In a statement issued here on Friday, PIAF office-bearers including Chairman Irfan Qaiser Sheikh, Vice Chairmen Iqbal Baig Chughtai and Shahzeb Akram said that the entire industry in Punjab had suffered as a consequence of gas outages.
They
In a statement issued here on Friday, PIAF office-bearers including Chairman Irfan Qaiser Sheikh, Vice Chairmen Iqbal Baig Chughtai and Shahzeb Akram said that the entire industry in Punjab had suffered as a consequence of gas outages.
They
Rs 69b generated from sales tax, customs duty on POL products:...
ISLAMABAD: The government has generated Rs 69 billion from sales tax and customs duty on petroleum products in the first four months of the current financial year, the Federal Board of Revenue (FBR) told a special committee of the Public Accounts Committee on Tuesday.
The FBR told the PAC III, which was chaired by Riaz Pirzada, that the tax earnings increased by Rs 30 billion in the same period. "Rs 428 billion have been received under pure taxes in the same period," the FBR
The FBR told the PAC III, which was chaired by Riaz Pirzada, that the tax earnings increased by Rs 30 billion in the same period. "Rs 428 billion have been received under pure taxes in the same period," the FBR
Power, gas and POL prices set to increase
ISLAMABAD: The government is likely to once more increase the tariffs for power and gas and prices of petroleum products during the month of December, official sources told Pakistan Today on Monday.
The prices of petroleum products are likely to go up by Rs 3 to Rs 5 per litre for the month of December, sources said.
However, they said that the increase in international petroleum prices would be less this time, as compared to last month, when petroleum products' prices
The prices of petroleum products are likely to go up by Rs 3 to Rs 5 per litre for the month of December, sources said.
However, they said that the increase in international petroleum prices would be less this time, as compared to last month, when petroleum products' prices
POL to benefit the most from Tal block production
KARACHI: Pakistan Oilfields Limited (POL) will be the chief beneficiary by dint of its low equity and production base as it has a 21 percent stake in the Tal block production.
The production from Tal is expected to reach 8,600 BOPD of oil and 367 MMCFD of gas by December 2011 as compared to 3,700 BOPD and 190 MMCFD recorded in the financial year 2010.
Oil and gas production of the company is expected to boost at a five-year compound annual growth rate of 9.4 percent from
The production from Tal is expected to reach 8,600 BOPD of oil and 367 MMCFD of gas by December 2011 as compared to 3,700 BOPD and 190 MMCFD recorded in the financial year 2010.
Oil and gas production of the company is expected to boost at a five-year compound annual growth rate of 9.4 percent from
POL well placed in circular debt crisis
KARACHI: The Pakistan Oilfields Limited's (POL) positive balance sheet and a comfortable receivable turnover in 45 days compared to over 170 days for both the Oil and Gas Development Company (OGDC) and the Pakistan Petroleum Limited (PPL) shows that the company is least affected from the circular debt.
Being a privately-owned entity and integrated vertically into the value chain part of Attock Group, a significant chunk of POL's oil output (estimated as more than 90 percent) is
Being a privately-owned entity and integrated vertically into the value chain part of Attock Group, a significant chunk of POL's oil output (estimated as more than 90 percent) is
POL prices rise again – Last nail in the coffin, say...
LAHORE: The business community has reacted strongly to the sharp escalation in the prices of petroleum products of Rs 4.27 to Rs 5.97 per litre and has called upon the federal government to reconsider its decision, given the serious consequences it holds for both industry and trade.
Business leaders from the provincial capital have said that the huge increase in the prices of petrol and diesel would greatly augment inflation and have a knock-on effect on the cost of all economic
Business leaders from the provincial capital have said that the huge increase in the prices of petrol and diesel would greatly augment inflation and have a knock-on effect on the cost of all economic
