Venturing for Value HA L F Y E A R LY REP ORT DECE M B E R 2 0 1 3
Venturing for Value For over 60 years for all stakeholders, the PPL brand is synonymous with the business of adding value. 2 Pakistan Petroleum Limited
Contents 02 Vision - Mission 03 Company Information 04 Directors Interim Review 09 Auditors Interim Review Report 10 Unconsolidated Condensed Interim Balance Sheet 11 Unconsolidated Condensed Interim Profit and Loss Account…
Vision To maintain PPLs position as the premier producer of hydrocarbons in the country by exploiting conventional and unconventional oil and gas resources, resulting in value addition to shareholders investment and the nation as…
Company Information Board of Directors Mr. Asim Murtaza Khan (Chief Executive Officer / Managing Director) Mr. Sajid Zahid (Non-Executive Director) Mr. Saquib H. Shirazi (Independent, Non-Executive Director) Mr. Mohsin Aziz…
Directors Interim Review Your directors are pleased to present the unaudited condensed interim financial statements for the half year ended December 31, 2013 and a brief review of the Companys operations. FINANCIAL AND OPERATIONAL…
CORPORATE STRATEGY AND FOCUS AREAS Growth remains the prime focus of the Companys Corporate Strategy with the objectives of replenishment of the depleting reserves, evaluation of various significant projects, training of employees,…
Directors Interim Review In Gambat Block, drilling of exploratory well Tajjal South-1 was completed and abandoned as a dry hole after well testing. 2D seismic surveys in Nashpa and Jati Blocks are in progress. In Ghauri Block,…
development. In addition, PPL has always come forward in a big way to alleviate the sufferings of humanity in times of any disaster through emergency relief and rehabilitation. The Company regularly monitors the quality and progress of…
Directors Interim Review Human Resources PPL strives to offer market competitive remuneration packages and performance incentives in order to attract and retain technical and specialised human resource. Due to expansion in exploration…
Auditors Report to the Members on Review of Interim Financial Information Introduction We have reviewed the accompanying condensed interim balance sheet of Pakistan Petroleum Limited (the Company) as at 31 December 2013, the related…
Unconsolidated Condensed Interim Balance Sheet as at December 31, 2013 Note December June 31, 2013 30, 2013 Unaudited Audited Rs 000 NON-CURRENT ASSETS Fixed assets Property, plant and equipment 4 76,187,347 70,078,912 Intangible…
Unconsolidated Condensed Interim Profit and Loss Account (Unaudited) for the half year ended December 31, 2013 Note Quarter ended Quarter ended Half year ended Half year ended December December December December 31, 2013 31, 2012 31,…
Unconsolidated Condensed Interim Statement of Comprehensive Income (Unaudited) for the half year ended December 31, 2013 Quarter ended Quarter ended Half year ended Half year ended December December December December 31, 2013 31, 2012…
Unconsolidated Condensed Interim Cash Flow Statement (Unaudited) for the half year ended December 31, 2013 Note Half year ended Half year ended December December 31, 2013 31, 2012 Rs 000 CASH FLOWS FROM OPERATING ACTIVITIES Cash…
14 Subscribed and paid-up Revenue reserves share capital Capital Total General and Assets Dividend Total Convertible reserve Insurance Unappropriated reserves Ordinary contingency acquisition equalisation Total preference reserve…
Notes to and Forming Part of the Unconsolidated Condensed Interim Financial Statements (Unaudited) for the half year ended December 31, 2013 1. LEGAL STATUS AND NATURE OF BUSINESS 1.1 Pakistan Petroleum Limited (the Company) was…
Notes to and Forming Part of the Unconsolidated Condensed Interim Financial Statements (Unaudited) for the half year ended December 31, 2013 3.2 Implication of revised IFRS-2 (Share Based Payments) on BESOS Benazir Employees Stock…
Notes to and Forming Part of the Unconsolidated Condensed Interim Financial Statements (Unaudited) for the half year ended December 31, 2013 December June 31, 2013 30, 2013 Unaudited Audited Rs 000 4.1 Capital work-in-progress…
Notes to and Forming Part of the Unconsolidated Condensed Interim Financial Statements (Unaudited) for the half year ended December 31, 2013 5.1 During the current period, the Company has established a wholly-owned subsidiary, PPL…
Notes to and Forming Part of the Unconsolidated Condensed Interim Financial Statements (Unaudited) for the half year ended December 31, 2013 8.1 During the current period, the Company has initiated the process to dissolve PPL Asia…
Notes to and Forming Part of the Unconsolidated Condensed Interim Financial Statements (Unaudited) for the half year ended December 31, 2013 Quarter ended Quarter ended Half year ended Half year ended December December December…
Notes to and Forming Part of the Unconsolidated Condensed Interim Financial Statements (Unaudited) for the half year ended December 31, 2013 13.1 These are net of insurance claim received of Rs 868 million during the current period in…
Notes to and Forming Part of the Unconsolidated Condensed Interim Financial Statements (Unaudited) for the half year ended December 31, 2013 Half year ended Half year ended December December 31, 2013 31, 2012 Rs 000 Other related…
Notes to and Forming Part of the Unconsolidated Condensed Interim Financial Statements (Unaudited) for the half year ended December 31, 2013 19. DATE OF AUTHORISATION FOR ISSUE These unconsolidated condensed interim financial…
Consolidated Condensed Interim Balance Sheet as at December 31, 2013 Note December June 31, 2013 30, 2013 Unaudited Audited Rs 000 NON-CURRENT ASSETS Fixed assets Property, plant and equipment 5 91,920,478 84,672,828 Intangible…
Consolidated Condensed Interim Profit and Loss Account (Unaudited) for the half year ended December 31, 2013 Note Quarter ended Quarter ended Half year ended Half year ended December December December December 31, 2013 31, 2012 31,…
Consolidated Condensed Interim Statement of Comprehensive Income (Unaudited) for the half year ended December 31, 2013 Quarter ended Quarter ended Half year ended Half year ended December December December December 31, 2013 31, 2012…
Consolidated Condensed Interim Cash Flow Statement (Unaudited) for the half year ended December 31, 2013 Note Half year ended Half year ended December December 31, 2013 31, 2012 Rs 000 CASH FLOWS FROM OPERATING ACTIVITIES Cash…
Subscribed and paid-up Revenue reserves share capital Capital Total General and Assets Dividend Total Convertible reserve Insurance Unappropriated Translation reserves Ordinary contingency acquisition equalisation Total preference…
Notes to and Forming Part of the Consolidated Condensed Interim Financial Statements (Unaudited) for the half year ended December 31, 2013 1. LEGAL STATUS AND NATURE OF BUSINESS The Group consists of Pakistan Petroleum Limited (the…
Notes to and Forming Part of the Consolidated Condensed Interim Financial Statements (Unaudited) for the half year ended December 31, 2013 PPL Asia E&P B.V. During the current period, the Holding Company has established a…
Notes to and Forming Part of the Consolidated Condensed Interim Financial Statements (Unaudited) for the half year ended December 31, 2013 The assets, liabilities, income and expenses of subsidiary companies are consolidated on a line…
Notes to and Forming Part of the Consolidated Condensed Interim Financial Statements (Unaudited) for the half year ended December 31, 2013 4. SIGNIFICANT ACCOUNTING POLICIES 4.1 Statement of Compliance The accounting policies and the…
Notes to and Forming Part of the Consolidated Condensed Interim Financial Statements (Unaudited) for the half year ended December 31, 2013 December June 31, 2013 30, 2013 Unaudited Audited Rs 000 5.1 Capital work-in-progress…
Notes to and Forming Part of the Consolidated Condensed Interim Financial Statements (Unaudited) for the half year ended December 31, 2013 December June 31, 2013 30, 2013 Unaudited Audited Rs 000 8. TRADE DEBTS Unsecured and…
Notes to and Forming Part of the Consolidated Condensed Interim Financial Statements (Unaudited) for the half year ended December 31, 2013 December June 31, 2013 30, 2013 Unaudited Audited Rs 000 11. TRADE AND OTHER PAYABLES…
Notes to and Forming Part of the Consolidated Condensed Interim Financial Statements (Unaudited) for the half year ended December 31, 2013 Quarter ended Quarter ended Half year ended Half year ended December December December December…
Notes to and Forming Part of the Consolidated Condensed Interim Financial Statements (Unaudited) for the half year ended December 31, 2013 Quarter ended Quarter ended Half year ended Half year ended December December December December…
Notes to and Forming Part of the Consolidated Condensed Interim Financial Statements (Unaudited) for the half year ended December 31, 2013 Half year ended Half year ended December December 31, 2013 31, 2012 Rs 000 17. CASH AND CASH…
Notes to and Forming Part of the Consolidated Condensed Interim Financial Statements (Unaudited) for the half year ended December 31, 2013 Quarter ended Quarter ended Half year ended Half year ended December December December December…
Notes to and Forming Part of the Consolidated Condensed Interim Financial Statements (Unaudited) for the half year ended December 31, 2013 22. GENERAL 22.1 As the subsidiary companies were acquired and incorporated during the period…
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