Pakistan Petroleum
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State sector Public limited company |
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| Traded as | : PPL |
| Industry | Energy |
| Genre | Oil and gas |
| Founded | 5 June 1950 |
| Founder | Government of Pakistan |
| Headquarters | Karachi, Sindh Province, Pakistan |
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Number of locations
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Nationwide |
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Area served
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Worldwide |
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Key people
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Hidayatullah Pirzada (chairman) Asim Murtaza Khan (MD and CEO) Ministry of Petroleum and Natural resources (Board of Governors) |
| Products | Petroleum Natural gas Motor fuels Aviation fuels |
| Services | Service stations |
| Revenue |
 Rs. 102.35 billion (2013) |
| Total assets |
Rs. 39.838 million (2012) |
| Total equity |
Rs. 370,024 million (2012) |
| Owner | Government of Pakistan |
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Number of employees
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2,700 Corporate staff only |
| Parent | BP |
| Subsidiaries | Bolan Mining Enterprises |
| Website | ppl |
Pakistan Petroleum Limited (Reporting name: PPL or PP) is a multinational, global competitive and one of the largest state-owned megacorporation of Pakistan. It was incorporated on 5 June 1950, when it inherited the assets and liabilities of the Burmah Oil Company Ltd. which initially holds 70% of the share with the rest mostly held by the government of Pakistan (GoP). As of June 2011, GoP held 70.66% of the shares.
The company is headquartered in Karachi. It operates major oil and gas fields, including the Sui gas field, has non-operating interests in other fields, and has an interest in an exploration portfolio onshore and offshore. The company is now planning international exploration in partnership mode.
Sales Rs 45.7 billion, profit before tax Rs 30.4 billion, profit after tax Rs 19.7 billion, cash dividend of 55% plus 10% stock dividend.
The company sale revenue increased by 31% to PKR 78.3 billion. PPL made a profit after tax of PKR 31.4 billion showing and increase of 35% over the previous financial year. Rising international prices and depreciation of the rupee against US dollar coupled with the positive oil-to-gas sales mix attributed to this profitability to rise all-time high earning per share of PKR 26.21
PPl secured five major corporate awards in 2011:
PPL is operator and shares 100% in two fields:
Bolan Mining Enterprises is a joint venture on equal basis between Pakistan Petroleum and the government of Baluchistan (GoB). A grinding mill having a capacity of 50,000 tonnes per year was set up and has met almost 80% of the total barytes required by oil exportation companies operating in Pakistan. Bolan barytes are produced in accordance with the American Petroleum Institute specifications. BME has been authorised by API to use their 'official momogram' on BME barytes.
During the financial year 2010–2011, the sales of barytes was 41,316 tonnes and BME earned a pre-tax profit of PKR 138.864 million from barytes project Khuzdar as compared to PKR 148.800 million earned in 2009–2010. A sum of PKR 27.440 million appropriated towards reserves for development and expansion. The company's net 50% share of the profit was PKR 55.712 million during the financial period 2010–2011.
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