Karachi: Oil and Gas Development Company Ltd (OGDC) has reported a decline in its net sales for the first half of fiscal year 2026, as revealed during its recent analyst briefing. The company's net sales reached PkR192.8 billion, marking a 7% decrease year-over-year. This reduction has been attributed to lower average oil prices and enforced production curtailments.
According to AKD Securities Limited, OGDC's net profit after tax (NPAT) for the period stood at PkR73 billion, which is an 11% decline compared to the previous year. The company announced a cash dividend of PkR4.25 per share, bringing the cumulative half-yearly payout to PkR7.75 per share, with a payout ratio of 46%.
The briefing also highlighted production figures for the first half of fiscal year 2026. Crude oil production increased by 1% year-over-year to 31,848 barrels per day, while natural gas production fell by 7% to 626 million cubic feet per day. Liquefied Petroleum Gas (LPG) production saw a 1% increase, reaching 636 tons per day.
Average realized prices for the period showed a mixed trend. Crude oil prices fell by 10% year-over-year to US$56.3 per barrel. In contrast, natural gas prices increased by 6% to PkR751.5 per million British thermal units, whereas LPG prices dropped by 16% to PkR141,000 per ton.
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