Page 69 - Pakistan Oilfields Limited - Annual Report 2021
P. 69
Future Outlook
Your Company has successfully passed COVID-19 situation where demand and prices of oil were on
the declining trend. Our oil prices are linked with the international oil prices which is uncontrollable
factor for us and for the industry as well. However, now the international prices are steadily
recovering.
On the production side, we are pretty much hopeful to maintain our existing production volume
and sales, as Pakistan is energy deficient and will be able to absorb all local oil and gas production
easily. We have all resources to complete our development and exploration activities as mentioned
in the earlier part of our report.
Acknowledgement
The results for the year could not have been made possible without the loyalty, devotion, hard work
and commitment of all employees. The Board of Directors acknowledges and deeply appreciates
their contribution towards achievement of the Company’s goals.
On behalf of the Board
Shuaib A. Malik Abdus Sattar
Chairman & Chief Executive Director
Rawalpindi
August 11, 2021
ANNUAL REPORT 2021 67
