Pakistan’s listed oil and gas exploration and production companies reported combined earnings of Rs113.4 billion in the first quarter of fiscal year 2027, up 43 percent from the same period last year, driven mainly by higher international oil and gas prices.What happened?
The sector’s July-September 2026 results, compiled in a report by Topline Research and reported by Business Recorder on October 31, 2026, show a strong year-on-year recovery for the country’s upstream energy firms.
Key details:
- Sector earnings rose 43 percent year-on-year to Rs113.4 billion in the first quarter of FY27.
- Net sales increased 32 percent year-on-year to Rs279.1 billion, with Arab Light crude averaging $90 per barrel during the quarter.
- Exploration costs declined 61 percent on a quarterly basis to Rs10.2 billion.
- Oil and Gas Development Company Limited (OGDC), Pakistan’s largest exploration and production firm, reported profit of Rs58.5 billion, up 53 percent year-on-year, with earnings per share of Rs13.60.
- Pakistan Petroleum Limited (PPL) reported earnings growth of 25 percent over the same period.
- Against the previous quarter, sector earnings were lower, reflecting softer oil prices and the absence of a one-off tax benefit that had boosted the preceding quarter.
What it means for people in Pakistan
Stronger earnings for the exploration and production sector support continued investment in domestic oil and gas fields, which matters for Pakistan’s energy supplies and for reducing reliance on imports. For investors, the results also show how closely the sector’s fortunes track international oil prices, which can swing results sharply from one quarter to the next.
Source: https://el7.ai/en/news/2026-10-31-pakistan-oil-and-gas-ep-sector-earnings-surge-43-in-1qfy27
