PPL, Pakistan Petroleum Limited..

**Pakistan Petroleum Limited (PPL) is a significant player in Pakistan's energy sector**, with a focus on oil and gas exploration, production, and supply. Here's a detailed analysis of the company: 1. **Corporate Overview**: - PPL is a publicly traded company listed on the Karachi Stock Exchange (KSE) and is part of the KSE 100 and KSE 30 components. - The company was founded on June 5, 1950, and has since inherited assets and liabilities from the Burmah Oil Company Ltd., which initially held a majority stake. - As of June 30, 2023, PPL's total assets were Rs. 794.444 billion (US$2.8 billion), with total equity amounting to Rs. 540.867 billion (US$1.9 billion). - The government of Pakistan owns 67.51% of PPL, making it a state-owned enterprise. 2. **Operations and Production**: - PPL operates 12 producing fields in various locations, including Sui, Kandhkot, Adhi, Mazarani, Chachar, Adam, Adam West, Shahdadpur, and Shahdadpur West. - The company contributes over 20% of Pakistan's total natural gas supplies and produces crude oil and natural gas. - In 2023, PPL's revenue was Rs. 288.053 billion (US$1.0 billion), with an operating income of Rs. 165.60 billion (US$570 million) and a net income of Rs. 97.221 billion (US$340 million). 3. **Recent Developments**: - In 2024, PPL began production at the Adhi South-9 well in Potohar, indicating ongoing exploration and production activities. - The company has also been involved in joint ventures and acquisitions, such as the acquisition of MND assets in Pakistan for $180 million in 2012, although this resulted in a significant loss. - PPL has been exploring international opportunities, with operations in regions like Abu Dhabi and the Netherlands. 4. **Financial Highlights**: - PPL's financial performance has been robust, with revenues exceeding analysts' expectations in the past, although earnings per share (EPS) have sometimes lagged. - The company has a history of paying dividends, with upcoming dividends of PK₨2.50 and PK₨1.50 per share. 5. **Challenges and Risks**: - Security risks and geopolitical tensions have impacted Pakistan's energy investment outlook, potentially affecting PPL's operations. - The company's reliance on international markets for oil and gas production can lead to volatility in its operations and financials. In conclusion, Pakistan Petroleum Limited (PPL) is a crucial entity in Pakistan's energy landscape, with a strong presence in oil and gas exploration and production. Its operations are supported by a robust financial position, although it faces challenges from security risks and the volatility of international energy markets.