ISLAMABAD: Oil and Gas Development Co. (OGDCL) reported a profit after tax of Rs115.26 billion for the nine months ended March 31, 2026, and declared a record cumulative dividend of Rs11 per share.
The state-run explorer announced a third interim cash dividend of Rs3.25 per share, taking its nine-month payout to a historic high. Net sales revenue stood at Rs300.13 billion, with earnings per share of Rs26.80. Performance was weighed by production curtailments and lower crude and LPG prices, partly offset by higher gas prices and exchange rate gains.
Average daily production included 32,022 barrels of oil and 648 million cubic feet of gas, compared with 31,710 barrels and 676 mmcfd a year earlier. Output was affected by curtailments, though gross crude production briefly crossed 40,000 barrels per day after optimisation efforts.
During the period, OGDC drilled 10 wells and made eight oil and gas discoveries, including production from Baragzai X-1, which is yielding around 6,100 barrels of oil per day and associated gas and LPG.
The company also reported progress on key development and compression projects, including Dakhni, Uch and KPD-TAY, aimed at boosting output. OGDC contributed Rs160 billion to the national exchequer and said it generated an estimated $2.3 billion in foreign exchange savings through import substitution. Receivables improved, with gas recoveries rising to 126 per cent.
