Pakistan Petroleum Limited (PPL) is a Pakistani state-owned oil and gas company headquartered in Karachi. It is one of the largest exploration and production companies in the country and contributes over 20% of the country’s total natural gas supplies. It operates in major oil and gas fields, including the Sui gas field, and has non-operating interests in other fields. PPL also has operations internationally in UAE and Yemen. Its managing director reports to the Petroleum Secretary of Pakistan.
History
Pakistan Petroleum Limited was incorporated on 5 June 1950, when it inherited the assets and liabilities of the Burmah Oil Company Ltd. which initially held 70 percent of the share with the rest mostly held by the government of Pakistan (GoP).
In September 1997, Burmah Oil Company sold all its remaining equity to the Government of Pakistan for $5.75 million.[2]
In 2004, Pakistan Petroleum was listed on the Karachi Stock Exchange, following an initial public offering at PKR 55 per share.[3]