PPL approves 25% final dividend
Pakistan Petroleum Limited’s shareholders approved a 25% final cash dividend, bringing the total payout to 75% for FY2024–25, during the company’s 74th Annual General Meeting held in Karachi on Monday.
The meeting, chaired by PPL Board Chairman Shahab Rizvi, also endorsed the company’s audited financial statements for the year ended June 30, 2025. Rizvi lauded shareholders’ trust as the company marked its platinum jubilee and introduced newly appointed Managing Director and CEO Sikandar Memon.
Read More: PPL names Sikandar Ali Memon new CEO
Memon outlined PPL’s operational performance, noting that the company achieved a 2P reserves replacement ratio of 129% and maintained average production at around 632 million standard cubic feet of gas equivalent per day (MMscfde) despite network restrictions and lower offtakes from Kandhkot.
Production from the Pateji X-1 discovery in Sindh commenced within five months—a record timeline for the company—while other key wells including Adhi South 8 & 9 and Jhim East X-1 were also commissioned during the year.
In FY2024–25, PPL drilled 11 exploration and four development wells across operated and partner-operated assets. The company also finalized a Production Concession Agreement with ADNOC for its Offshore Block 5 in Abu Dhabi through Pakistan International Oil Limited (PIOL), securing a 40% working interest in the production phase.
On diversification, PPL made progress on its Bolan Mining Enterprises-led BLZ project, signing a facility agreement to advance mining operations. Meanwhile, the company reaffirmed its stake in the Reko Diq copper and gold project, where production is targeted for 2028–29. PPL also allocated Rs 4.6 billion to community development under its corporate social responsibility initiatives, and plans to publish its first Environmental, Social, and Governance (ESG) Report soon.
Memon emphasized PPL’s strategic pivot toward becoming a diversified energy and minerals company, underscoring its focus on technology-driven exploration and partnerships in frontier and offshore blocks. With energy sector reforms and renewed exploration incentives from the government, analysts expect Pakistan Petroleum Limited to play a central role in strengthening the country’s upstream resource base and supporting long-term energy security.
