Page 246 - Pakistan Oilfields Limited - Annual Report 2021

NOTES TO AND FORMING

PART OF THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED JUNE 30, 2021

48. NON-ADJUSTING EVENT AFTER THE STATEMENT OF FINANCIAL POSITION DATE

The Board of Directors in its meeting held on August 11, 2021 has proposed a final dividend for the
year ended June 30, 2021 @ 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 September 22, 2021.

49. CORRESPONDING FIGURES

49.1 Corresponding figures have been rearranged/reclassified wherever necessary to reflect more
appropriate presentation of figures in accordance with accounting and reporting standards as
applicable in Pakistan. However no significant reclassification have been made except for following:

Rupees (‘000)
These figures have been reclassified in statement of cash flows to conform to
current year's presentation. 1,656,263

50. GENERAL

50.1 IMPACT OF COVID 19 ON THE FINANCIAL STATEMENTS

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 at the start of
2020. This resulted in decrease in international prices of petroleum products, which are now steadily
recovering. As at year end, there is no other material adverse impact to the business, financial conditions
and results of operations. Management will continue to monitor the potential impact and will take all
steps possible to mitigate any effects.

50.2 Capacity

Following is production from the Group’s fields including proportionate share from all operated and
non-operated joint ventures:
Product Unit 2021 2020

Crude Oil/Condensate US Barrels 2,264,413 2,282,029
Gas Million Cubic Feet 28,596 29,336
LPG Metric Tonnes 56,660 55,778
Sulphur Metric Tonnes 428 451
Solvent Oil US Barrels 16,658 19,453

Considering the nature of the Group's business, information regarding installed capacity has no
relevance.

244 PAKISTAN OILFIELDS LIMITED