Venturing for Value N I NE M O N T HS REP ORT M AR C H 2 0 1 4
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 10 Unconsolidated Condensed Interim Balance Sheet 11 Unconsolidated Condensed Interim Profit and Loss Account (Unaudited) 12 Unconsolidated…
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 nine months period ended March 31, 2014 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 Naushahro Firoz Block, exploratory well Naushahro Firoz X-1 was spud in October, 2013. During testing, well flowed good quality gas at variable rates and indicated tight gas discovery. The well has been…
In order to maintain production levels from Qadirpur Field, well QP-52 Horizontal was completed as a gas producer in January, 2014. Well QP-51 was spud in January, 2014 and drilling is in progress. In Sawan Field, development well Sawan…
Directors Interim Review In the Companys production areas such as Adhi Field, a multi-purpose hall was constructed and inaugurated at Government Boys High School, Mohra Noori and Government Girls Junior Model High School, Bahawalpur.…
Quality, Occupational Health, Safety and Environment (QHSE) QHSE Function being an integral part of business operations is pursuing initiatives focused on fostering QHSE culture, enhancing asset integrity through Process Safety…
Unconsolidated Condensed Interim Balance Sheet as at March 31, 2014 Note March June 31, 2014 30, 2013 Unaudited Audited Rs 000 NON-CURRENT ASSETS Fixed assets Property, plant and equipment 4 79,167,672 70,078,912 Intangible assets…
Unconsolidated Condensed Interim Profit and Loss Account (Unaudited) for the nine months period ended March 31, 2014 Note Quarter ended Quarter ended Nine months Nine months March March ended ended 31, 2014 31, 2013 March 31, 2014…
Unconsolidated Condensed Interim Statement of Comprehensive Income (Unaudited) for the nine months period ended March 31, 2014 Quarter ended Quarter ended Nine months Nine months March March ended ended 31, 2014 31, 2013 March 31, 2014…
Unconsolidated Condensed Interim Cash Flow Statement (Unaudited) for the nine months period ended March 31, 2014 Note Nine months Nine months ended ended March 31, 2014 March 31, 2013 Rs 000 CASH FLOWS FROM OPERATING ACTIVITIES…
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 nine months period ended March 31, 2014 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 nine months period ended March 31, 2014 Nine months Nine months ended ended March 31, 2014 March 31, 2013 Rs 000 Staff costs…
Notes to and Forming Part of the Unconsolidated Condensed Interim Financial Statements (Unaudited) for the nine months period ended March 31, 2014 March June 31, 2014 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 nine months period ended March 31, 2014 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 nine months period ended March 31, 2014 8.1 During the current period, the Company had initiated the process to dissolve PPL Asia…
Notes to and Forming Part of the Unconsolidated Condensed Interim Financial Statements (Unaudited) for the nine months period ended March 31, 2014 Quarter ended Quarter ended Nine months Nine months March March ended ended 31, 2014…
Notes to and Forming Part of the Unconsolidated Condensed Interim Financial Statements (Unaudited) for the nine months period ended March 31, 2014 13.1These are net of insurance claim received of Rs 868 million during the current period…
Notes to and Forming Part of the Unconsolidated Condensed Interim Financial Statements (Unaudited) for the nine months period ended March 31, 2014 Nine months Nine months ended ended March 31, 2014 March 31, 2013 Rs 000 Other…
Notes to and Forming Part of the Unconsolidated Condensed Interim Financial Statements (Unaudited) for the nine months period ended March 31, 2014 18.3 During the current period, the Company has issued 20% bonus shares (i.e. one share…
Consolidated Condensed Interim Balance Sheet as at March 31, 2014 Note March June 31, 2014 30, 2013 Unaudited Audited Rs 000 NON-CURRENT ASSETS Fixed assets Property, plant and equipment 5 93,329,553 84,672,828 Intangible assets 6…
Consolidated Condensed Interim Profit and Loss Account (Unaudited) for the nine months period ended March 31, 2014 Note Quarter ended Quarter ended Nine months Nine months March March ended ended 31, 2014 31, 2013 March 31, 2014 March…
Consolidated Condensed Interim Statement of Comprehensive Income (Unaudited) for the nine months period ended March 31, 2014 Quarter ended Quarter ended Nine months Nine months March March ended ended 31, 2014 31, 2013 March 31, 2014…
Consolidated Condensed Interim Cash Flow Statement (Unaudited) for the nine months period ended March 31, 2014 Note Nine months Nine months ended ended March 31, 2014 March 31, 2013 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 nine months period ended March 31, 2014 1. LEGAL STATUS AND NATURE OF BUSINESS The Group consists of Pakistan Petroleum Limited…
Notes to and Forming Part of the Consolidated Condensed Interim Financial Statements (Unaudited) for the nine months period ended March 31, 2014 The Pakistan Petroleum Provident Fund Trust Company (Private) Limited PPPFTC was…
Notes to and Forming Part of the Consolidated Condensed Interim Financial Statements (Unaudited) for the nine months period ended March 31, 2014 The assets, liabilities, income and expenses of subsidiary companies are consolidated on a…
Notes to and Forming Part of the Consolidated Condensed Interim Financial Statements (Unaudited) for the nine months period ended March 31, 2014 4. SIGNIFICANT ACCOUNTING POLICIES 4.1 Statement of Compliance The accounting policies…
Notes to and Forming Part of the Consolidated Condensed Interim Financial Statements (Unaudited) for the nine months period ended March 31, 2014 March June 31, 2014 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 nine months period ended March 31, 2014 March June 31, 2014 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 nine months period ended March 31, 2014 March June 31, 2014 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 nine months period ended March 31, 2014 Quarter ended Quarter ended Nine months Nine months March March ended ended 31, 2014 31,…
Notes to and Forming Part of the Consolidated Condensed Interim Financial Statements (Unaudited) for the nine months period ended March 31, 2014 Quarter ended Quarter ended Nine months Nine months March March ended ended 31, 2014 31,…
Notes to and Forming Part of the Consolidated Condensed Interim Financial Statements (Unaudited) for the nine months period ended March 31, 2014 Nine months Nine months ended ended March 31, 2014 March 31, 2013 Rs 000 17. CASH AND…
Notes to and Forming Part of the Consolidated Condensed Interim Financial Statements (Unaudited) for the nine months period ended March 31, 2014 Quarter ended Quarter ended Nine months Nine months March March ended ended 31, 2014 31,…
Notes to and Forming Part of the Consolidated Condensed Interim Financial Statements (Unaudited) for the nine months period ended March 31, 2014 21.2 The corresponding figures of consolidated condensed interim profit and loss account,…
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