Ogdc posts record rs242.37bn profit, up 42.7pc, nine new oil and gas discoveries

ISLAMABAD: Oil and Gas Development Company (OGDC) has posted a record profit after tax of Rs242.37 billion for fiscal year 2025-26, marking a 42.7 per cent increase from Rs169.90bn recorded in the previous year, with earnings rising by Rs72.47bn in a single year. The record performance was achieved under the direction of OGDC Chairman Board of Directors Zafar Masud and the leadership of Managing Director Ahmed Hayat Lak.

The company also announced a final cash dividend of Rs6 per share, taking the total annual dividend to Rs17 per share, described as the highest annual dividend in the company’s history.

OGDCL’s annual sales revenue stood at Rs449.19bn, while earnings per share were recorded at Rs56.35.

Despite challenges including circular debt and forced shutdowns affecting oil and gas production, the company maintained its operational performance and recorded growth across key areas.

During the year, OGDCL contributed Rs187bn to the national exchequer and helped save approximately $3.31bn in foreign exchange.

The state-owned exploration and production company also reported nine new oil and gas discoveries during the fiscal year, with its reserve replacement ratio reaching 236pc.

Average daily production during FY2025-26 stood at 32,861 barrels of oil, 667 million standard cubic feet of gas and 670 metric tonnes of LPG.

Meanwhile, OGDCL’s market capitalisation reached approximately Rs1.44 trillion.

The company’s latest results come amid continuing challenges in Pakistan’s energy sector, particularly circular debt and disruptions in domestic oil and gas production.

The performance, however, underscores OGDCL’s contribution to domestic energy supplies, government revenues and foreign-exchange savings, while its new discoveries are expected to support the country’s future hydrocarbon resource base.

The company said the results reflected the efforts of its management and workforce and reaffirmed its role in supporting Pakistan’s energy security.