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Analyst Opinion
PPL - Pakistan Petroleum Ltd.
PPL Large-Scale Presence in Pakistan’s E&P Sector
Ahsan Muhammad Asif    9/28/2026 10:25:07 AM
Pakistan Petroleum Limited (PPL) is a Pakistani state-owned oil and gas exploration and production (E&P) company headquartered in Karachi. It is one of the country's major E&P companies and contributes more than 20% of Pakistan's natural gas supplies. The company has interests in several major producing oil and gas fields, including the Sui gas field, alongside exploration and development activities across its domestic portfolio. Established Producing Assets with Expanding Exploration Activity PPL operates and holds a 100% working interest in the Kandhkot and Sui gas fields. Alongside its established domestic producing assets, the company has expanded its exploration activities beyond Pakistan through international interests, including Offshore Block 5 in Abu Dhabi, UAE, and historical operations in Yemen. During 9MFY26, PPL reported two discoveries in PPL-operated blocks and nine discoveries in partner-operated blocks, reflecting continued exploration activity across its portfolio. Diversification Beyond Hydrocarbons PPL also has exposure to non-hydrocarbon assets through its 50% joint venture interest in Bolan Mining Enterprises (BME), established with the Government of Balochistan. BME is involved in the mining of minerals including baryte, lead, and zinc. The company also holds an effective 8.33% interest in the Reko Diq Copper-Gold Project. The project represents a potential source of diversification beyond PPL's traditional oil and gas operations, with commercial production currently expected around FY28–29. Strong Earnings and Revenue Base In FY26, PPL generated annual revenue of PKR 264.014 billion and reported a gross margin of over 60% and a net profit margin of 37.32%. The company's earnings remain influenced by production volumes, realized oil and gas prices, field performance, development activity, and changes in the regulatory and fiscal environment. Growing Long-Term Investment Base PPL's long-term investments increased by 34.5% year-on-year to PKR 120.6 billion. The company's cash and bank balances stood at PKR 7.166 billion. The increase in long-term investments reflects the company's broader investment base and its participation in projects beyond its core producing assets. Dividend Distribution PPL is a dividend-paying company, with a FY26 dividend of PKR 6/sh Key Investment Considerations PPL's investment profile is primarily shaped by its large domestic producing asset base, continued exploration activity, international exposure, and investments in mining and other strategic projects. The Reko Diq project adds a potential long-term source of diversification beyond the company's traditional E&P operations. PPL's future financial performance will remain dependent on production levels, commodity prices, exploration outcomes, project execution, regulatory developments, and the timing and economics of its international and non-hydrocarbon investments.
Link: https://scstrade.com/apaudio/PPL-118-1790573081402-27e390e8.pdf
PPL - Pakistan Petroleum Ltd.
PPL PSO OGDC Bullish Stance
SCS Technical Desk    9/26/2025 12:00:00 AM
PPL, OGDC, and PSO — all three are currently testing multi-year resistance levels that have been rejected multiple times since 2005. Stay focused on confirmation: The real strength will come only if these stocks break out and hold above their respective resistance levels. While sentiment is positive, respect the levels. A sustainable move above resistance would mark a significant shift in trend and open door for further upside.
PPL - Pakistan Petroleum Ltd.
PPL Weekly Breakout Confirmed
SCS Technical Desk    8/7/2025 12:00:00 AM
Sell – Resistance at 200-210
PPL - Pakistan Petroleum Ltd.
PPL Facing Resistance
SCS Technical Desk    7/31/2025 12:00:00 AM
PPL Facing strong resistance around 177 - 179 level break this level will lead towards 190 and 195 Use stop-loss below 170 closing basis