Karachi: Oil and gas production showed a 19% year-over-year increase as of April 8, 2026, driven by a significant revival in domestic hydrocarbon flows. According to AKD Securities Limited, weekly oil and gas production remained stable with oil reaching 67,581 barrels per day and gas at 3,057 million cubic feet per day. The increase is attributed to ramped-up gas production wells following reduced line-pack pressure after a force majeure on Qatari RLNG supplies. Key contributors to the increase in gas output were the Mari, Sui, Qadirpur, and Kandhkot fields, while oil volumes were bolstered by Nashpa and Makori Deep.
The week-on-week analysis showed a slight rise in oil production by 1%, mainly due to increases at Makori East, KPD, and Adhi. Gas production saw a sequential uptick from fields like Kandhkot, Qadirpur, and Uch, which offset declines in Sharf and Mardankhel. The Shewa field experienced a notable reduction in gas volumes by 56%. AKD maintains a 'BUY' stance on OGDC, PPL, MARI, and POL, with target prices set for December 2026.