Venturing for Value Q U A R T E R LY REP ORT SEP T E 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 Core Values 04 Company Information 05 Directors Interim Review 10 Unconsolidated Condensed Interim Balance Sheet 11 Unconsolidated Condensed Interim Profit and Loss Account (Unaudited) 12…
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…
Core values Recognise that Leadership, Empowerment and Accountability are essential for corporate success. Pursue the Highest Standards of Ethical Behaviour and Integrity. Consider our people as the most important resource.…
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 quarter ended September 30, 2013 and a brief review of the Companys operations. FINANCIAL AND OPERATIONAL…
Directors Interim Review 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,…
In Gambat Block, exploratory well Tajjal South-1 was spud in September 2013 and currently drilling is in progress. In Sukhpur Block, gas production from Lundali-1 through EWT is in progress. Appraisal and Development In Adhi field,…
Directors Interim Review Virtual University A major breakthrough is approval of establishment of Virtual University (VU) at Sui town. VU management has decided to approve PPLs proposal for establishment of separate VU campuses at PPL…
ACKNOWLEDGEMENT The Companys achievements could not have been possible without the concerted efforts of our Employees who deserve full compliments. We are also thankful to the continued support of the Government of Pakistan and…
Unconsolidated Condensed Interim Balance Sheet as at September 30, 2013 Note September June 30, 2013 30, 2013 Unaudited Audited Rs 000 NON-CURRENT ASSETS Fixed assets Property, plant and equipment 4 72,275,902 70,078,912 Intangible…
Unconsolidated Condensed Interim Profit and Loss Account (Unaudited) for the quarter ended September 30, 2013 Note Quarter ended Quarter ended September September 30, 2013 30, 2012 (Restated) Rs 000 Sales - net 12 27,782,085…
Unconsolidated Condensed Interim Statement of Comprehensive Income (Unaudited) for the quarter ended September 30, 2013 Quarter ended Quarter ended September September 30, 2013 30, 2012 (Restated) Rs 000 Profit after taxation…
Unconsolidated Condensed Interim Cash Flow Statement (Unaudited) for the quarter ended September 30, 2013 Note Quarter ended Quarter ended September September 30, 2013 30, 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 quarter ended September 30, 2013 1. LEGAL STATUS AND NATURE OF BUSINESS Pakistan Petroleum Limited (the Company) was…
Notes to and Forming Part of the Unconsolidated Condensed Interim Financial Statements (Unaudited) for the quarter ended September 30, 2013 Quarter ended Quarter ended September September 30, 2013 30, 2012 Rs 000 Staff costs of…
Notes to and Forming Part of the Unconsolidated Condensed Interim Financial Statements (Unaudited) for the quarter ended September 30, 2013 September June 30, 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 quarter ended September 30, 2013 5.1. During the current period, PPL has established a wholly-owned subsidiary, PPL Asia E&P…
Notes to and Forming Part of the Unconsolidated Condensed Interim Financial Statements (Unaudited) for the quarter ended September 30, 2013 September June 30, 2013 30, 2013 Unaudited Audited Rs 000 7.1. The ageing of trade debts…
Notes to and Forming Part of the Unconsolidated Condensed Interim Financial Statements (Unaudited) for the quarter ended September 30, 2013 8.1. Subsequent to the year ended June 30, 2013, the Company has initiated the process to…
Notes to and Forming Part of the Unconsolidated Condensed Interim Financial Statements (Unaudited) for the quarter ended September 30, 2013 Quarter ended Quarter ended September September 30, 2013 30, 2012 Rs 000 12. SALES - net…
Notes to and Forming Part of the Unconsolidated Condensed Interim Financial Statements (Unaudited) for the quarter ended September 30, 2013 Quarter ended Quarter ended September September 30, 2013 30, 2012 Rs 000 14. OTHER…
Notes to and Forming Part of the Unconsolidated Condensed Interim Financial Statements (Unaudited) for the quarter ended September 30, 2013 Quarter ended Quarter ended September September 30, 2013 30, 2012 Rs 000 Other related…
Notes to and Forming Part of the Unconsolidated Condensed Interim Financial Statements (Unaudited) for the quarter ended September 30, 2013 19. DATE OF AUTHORISATION FOR ISSUE These unconsolidated condensed interim financial…
26 Pakistan Petroleum Limited
Consolidated Condensed Interim Financial Statements Quarterly Report September 2013 27
Consolidated Condensed Interim Balance Sheet as at September 30, 2013 Note September June 30, 2013 30, 2013 Unaudited Audited Rs 000 NON-CURRENT ASSETS Fixed assets Property, plant and equipment 5 87,665,860 84,672,828 Intangible…
Consolidated Condensed Interim Profit and Loss Account (Unaudited) for the quarter ended September 30, 2013 Note Quarter ended Quarter ended September September 30, 2013 30, 2012 (Restated) Rs 000 Sales - net 13 28,195,951…
Consolidated Condensed Interim Statement of Comprehensive Income (Unaudited) for the quarter ended September 30, 2013 Quarter ended Quarter ended September September 30, 2013 30, 2012 (Restated) Rs 000 Profit after taxation…
Consolidated Condensed Interim Cash Flow Statement (Unaudited) for the quarter ended September 30, 2013 Note Quarter ended Quarter ended September September 30, 2013 30, 2012 Rs 000 CASH FLOWS FROM OPERATING ACTIVITIES Cash…
32 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…
Notes to and Forming Part of the Consolidated Condensed Interim Financial Statements (Unaudited) for the quarter ended September 30, 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 quarter ended September 30, 2013 2. BASIS OF CONSOLIDATION The consolidated financial statements include the financial statements…
Notes to and Forming Part of the Consolidated Condensed Interim Financial Statements (Unaudited) for the quarter ended September 30, 2013 assets and liabilities of the foreign operation and translated at the spot rate of exchange at…
Notes to and Forming Part of the Consolidated Condensed Interim Financial Statements (Unaudited) for the quarter ended September 30, 2013 4.2 Implication of revised IFRS-2 (Share Based Payments) on BESOS In respect of the Holding…
Notes to and Forming Part of the Consolidated Condensed Interim Financial Statements (Unaudited) for the quarter ended September 30, 2013 September June 30, 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 quarter ended September 30, 2013 September June 30, 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 quarter ended September 30, 2013 8.2. Trade debts include overdue amount of Rs 19,631 million (June 30, 2013: Rs 23,263 million)…
Notes to and Forming Part of the Consolidated Condensed Interim Financial Statements (Unaudited) for the quarter ended September 30, 2013 September June 30, 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 quarter ended September 30, 2013 Quarter ended Quarter ended September September 30, 2013 30, 2012 (Restated) Rs 000 14. FIELD…
Notes to and Forming Part of the Consolidated Condensed Interim Financial Statements (Unaudited) for the quarter ended September 30, 2013 Quarter ended Quarter ended September September 30, 2013 30, 2012 Rs 000 15. OTHER INCOME…
Notes to and Forming Part of the Consolidated Condensed Interim Financial Statements (Unaudited) for the quarter ended September 30, 2013 Quarter ended Quarter ended September September 30, 2013 30, 2012 Rs 000 18. TRANSACTIONS WITH…
Notes to and Forming Part of the Consolidated Condensed Interim Financial Statements (Unaudited) for the quarter ended September 30, 2013 Quarter ended Quarter ended September September 30, 2013 30, 2012 (Restated) 19. EARNINGS PER…
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