Higher gas prices set to lift E&P earnings
Pakistan’s exploration and production (E&P) companies are set for a positive earnings impact after wellhead gas prices for several fields were raised by up to 15.8% for the second half of 2026, according to Topline Securities. The brokerage estimates that gas prices for companies operating under the Petroleum Policy 2012 (PP2012) could increase by around 10–11%, reflecting the sliding benefit mechanism under the policy. The revision follows a sharp increase in international oil prices, with the average Arab Light price rising to $92.2 per barrel during January-June 2026, compared with $68.4/bbl in the preceding six-month period, an increase of around 35%.