Karachi: The earnings for Pakistan’s major exploration and production companies are projected to experience a significant boost in the fourth quarter of fiscal year 2026, driven by increased oil prices and higher hydrocarbon production. The cumulative earnings for Oil & Gas Development Company Limited (OGDC), Pakistan Petroleum Limited (PPL), Pakistan Oilfields Limited (POL), and Mari Petroleum Company Limited (MARI) are expected to rise by 25% year-on-year.

According to JS Global, the anticipated increase in earnings is largely attributed to a 51% year-on-year rise in oil prices. OGDC, PPL, and POL are expected to report a year-on-year increase in earnings per share (EPS) with figures likely reaching Rs12.47 (a 33% rise), Rs9.56 (a 44% rise), and Rs29.70 (a 13% rise), respectively. Conversely, MARI is expected to see a 5% decline in earnings with an EPS of Rs14.91, attributed to a normalized tax charge.

In addition to these earnings forecasts, the companies are expected to announce final cash dividends. OGDC is likely to declare a dividend of Rs6.0 per share, PPL Rs3.5 per share, POL Rs60.0 per share, and MARI Rs14.0 per share.