Karachi: The upcoming fourth-quarter results for key players in Pakistan's oil and gas sector signal challenging times ahead, with expectations of declining profitability due to reduced hydrocarbon production and weaker oil prices. According to a preview by JS Global, Oil and Gas Development Company Limited (OGDC), Pakistan Oilfields Limited (POL), and Mari Petroleum Company Limited (MARI) are likely to experience year-over-year declines in earnings.

The anticipated earnings per share (EPS) for OGDC, POL, and MARI are projected at Rs8.34, Rs20.65, and Rs10.21, respectively, marking decreases of 5%, 36%, and 52% compared to the same period last year.

In contrast, Pakistan Petroleum Limited (PPL) is expected to buck the trend by posting a 10% year-over-year increase in its bottom line, with an EPS of Rs7.20 for the quarter.

The report also forecasts that alongside their quarterly results, OGDC, PPL, POL, and MARI will announce cash dividends of Rs4.5, Rs3, Rs45, and Rs17 per share, respectively.

This development underscores the pressures faced by the sector amid fluctuating global oil dynamics and domestic production challenges.