Refineries Make Over 1,000% Higher Profit After Difficult Decision

While Pakistan Oilfields and Attock Petroleum additionally recorded higher earnings, pakistan's three listed oil refineries documented year-on-year profit expansion of more than 1, 000 percent in the July- September quarter (1QFY27).

Key points

• Pakistan's Crude Oil Imports Jump 12% to 2.78 Million Tonnes in Q1.
• According to Arif Habib Limited (AHL), total refinery upliftment rose 37.3 percent year-on-year to 3.192 million tonnes during the quarter.
• These results reflect the windfall effect on refinery sector since the Petroleum Division switched to daily fuel cost updates on 18 July 2026.
• The administration lowered the maximum HSD crack spread employed in domestic diesel pricing to $38 per barrel from $41.89 per barrel on October 20.
• 18.65 billion in the first quarter of fiscal year 2027 from Rs.

Attock Refinery Limited's net profit rose to Rs. 18.65 billion in the first quarter of fiscal year 2027 from Rs. 1.45 billion a year earlier, an growth of 1, 184 percent.

National Refinery Limited documented a net profit of Rs. 11.57 billion, up from Rs. 1.03 billion in the same period last year, representing expansion of concerning 1, 029 percent.

Pakistan Refinery Limited's net profit climbed to Rs. 13.97 billion from Rs. 1.02 billion, an growth of approximately 1, 274 percent. Oil and Gas Firms Report Higher Profits.

Pakistan Oilfields documented net profit of Rs. 8.19 billion for the quarter, compared with Rs. 5.43 billion a year earlier, an growth of concerning 51 percent.

Attock Petroleum's net profit rose approximately 74 percent to Rs. 6.64 billion from Rs. 3.81 billion. Higher Refining Margins Backing Earnings.

For context, the refineries' earnings surge coincided with stronger international refining margins, inventory gains and rose product sales against the backdrop of global supply uncertainty linked to the US-Iran and Russia-Ukraine wars.

Brokerage stimates published ahead of the quarterly results put average gross refining margins at around $30 per barrel during Q1FY27.

While petrol's spread was estimated at around $25 per barrel, diesel was the strongest contributor, with an estimated spread of $55 to $57 per barrel.

Attock Refinery was estimated to have achieved a gross refining margin of approximately $40 per barrel, alongside inventory gains of Rs. 1.5 billion.

National Refinery's estimated margin stood at $28.9 per barrel, with projected inventory gains of Rs. 2.7 billion. Pakistan Refinery's estimated margin was $26 per barrel. Cheap Fuel Stock Getting Expensive.

Higher international product rates can additionally growth the value of fuel stocks purchased at lower costs.

Nevertheless, the earnings of oil producers and petroleum marketers have different drivers from those of refineries, so their profit increases should not be attributed entirely to refining margins.

Industry capacity utilisation reached 59.5 percent in September, compared with 50.7 percent a year earlier. NBP CEO to Receive Rs. 11 Crore Annual Salary Plus Benefits. Govt Lowers Diesel Margin Cap.

Meanwhile, the administration lowered the maximum HSD crack spread employed in domestic diesel pricing to $38 per barrel from $41.89 per barrel on October 20.

In practice, the revised ceiling followed an earlier arrangement that had been due to expire around that date.

Topline Securities earlier documented the change after it appeared in OGRA's pricing data and was confirmed with a refinery business.

For context, the revised limit could put pressure on refining margins in the after quarter. Stay Connected with ProPakistani.

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For now, refineries Make Over 1, 000% Higher Profit After Difficult Decision remains the part of the story worth watching, and further updates are likely as more details are confirmed.