Oil and gas sector in disarray – Pakistan Industrial sector update 2011

Oil and gas sector in disarray – Pakistan Industrial sector update 2011

KARACHI – Despite good news flow regarding price and volumetric difference in oil and gas, nation’s greatest outlined area having 40 % weight in KSE 100 catalog, has so far published a bad come back of 5 % this year. This 5 % come back also includes the
results. However, the area has been able to pulled ahead of the standard KSE-100 catalog by one %, said the experts at Broker agent Topline Investments.

POL was as the single company that published good come back of 38 % in E&P area amongst demure overseas holding and volumetric growth due to Tal block. On the other hand, Khan said OGDC and PPL that cumulatively lead around 32 % to KSE 100, published a bad
come back of 8 % and 9 %, respectively. “The former adverse efficiency is primarily because of overseas selling, while the later you will find under pressure due to expected additional supply after additional public offering by GoP,” the professional said.
Khan said the oil marketing area (three outlined organizations in KSE 100 index) published a decent return of around 11 %, thanks to 40 % return offered by APL. The other two,organisations PSO and Shell saw their growth declining considerably.

“Foreign contributors looking for risk aversion strategy on account of global economic concern, was as the reason behind this adverse efficiency,” said Nauman Khan. “The stress Pak-US relationship, indecisiveness on the governmental front, listlessness in
nation’s economy and serious rounded debt, all increased the adverse notion.” Amongst 12 outlined organizations, only two organizations, Attock Oil (APL) and Pakistan Oilfields (POL), have published good come back of 40 % and 38 %, respectively, while all
the rest offered a poor return to the people.

The worst performing stocks in the area are Burshane LPG and Byco Oil (BYCO), which published adverse come back of 44 % and 40 %, respectively, said the professional. He said within the oil and gas area, outlined E&P area (PPL, OGDC, POL and Mari) offered
an overall adverse come back of 6 % in 2011YTD, which was in line with the standard come back.

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Posted by Ahmed Tariq on Dec 15 2011. Filed under Latest News, Middle East, Pakistan, Politics, Sci-Tech. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry