Pakistan’s listed oil and gas exploration and production sector earned Rs113.4 billion in the first quarter of fiscal year 2027, up 43 percent from a year earlier, according to a Topline Research report covered by Business Recorder. Sector sales rose 32 percent year-on-year to Rs279.1 billion, helped mainly by higher international oil and gas prices. Arab Light crude averaged 90 dollars a barrel during the quarter, against 71.50 dollars a year earlier. Among individual companies, Oil and Gas Development Company (OGDC) reported earnings growth of 53 percent and announced a cash dividend of Rs5 per share, while Pakistan Petroleum Limited (PPL) grew 25 percent and announced Rs2 per share. Exploration costs rose 45 percent year-on-year to Rs10.2 billion, with one dry well reported in the quarter. The year-on-year jump should be read with its other half: earnings fell 47 percent from the previous quarter, reflecting lower oil prices and a tax reversal in that quarter. For readers, the picture is a sector earning more than last year on stronger prices, not a straight upward line. Sources: Business Recorder, Profit (Pakistan Today) (Topline Research). Written in our own words for information only.