Basic HTML Version
NOTES TO AND FORMING
PART OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2020
255
PAKISTAN OILFIELDS LIMITED
49.
NON-ADJUSTING EVENT AFTER THE STATEMENT OF FINANCIAL POSITION DATE
The Board of Directors in its meeting held on August 26, 2020 has proposed a final dividend for the
year ended June 30, 2020 @ Rs 30 per share, amounting to Rs 8,515,653 thousand for approval of the
members in the Annual General Meeting to be held on October 19, 2020.
50.
CORRESPONDING FIGURES
50.1
Corresponding figure of excise duty in statement of profit or loss, amouting to Rs 309,251 thousand
has been reclassified from expenses to deduction from sales.
50.2
Corresponding figure of Treasury Bills of Rs 67,271 thousand in statement of financial position, has
been reclassified from other financial assets to short term investments.
These figures have been reclassified in statement of cash flows to conform to current year's
presentation.
51.
GENERAL
51.1 COVID 19
The spread of Covid - 19 as a pandemic and consequently imposition of lock down by Federal and
Provincial Governments of Pakistan (Authorities) caused an overall economic slow down and disruption
to various businesses. It resulted in decrease in demand and price of petroleum products during the
lockdown period. However, the businesses are resuming as per relaxation given by the Authorities.
Management will continue tomonitor and will take all steps possible tomitigate any effects.
51.2 Capacity
Following is production from the Group's fields including proportionate share from all operated and
non-operated joint ventures:
Product
Unit
2020
2019
Crude Oil/Condensate
US Barrels
2,282,029
2,615,981
Gas
MillionCubic Feet
29,336
32,189
LPG
Metric Tonnes
55,778
61,076
Sulphur
Metric Tonnes
451
645
Solvent Oil
US Barrels
19,453
23,452
Considering the nature of the Group's business, information regarding installed capacity has no
relevance.