By Muhammad Mudassar ISLAMABAD, March 23 (INP-WealthPK): The total sales revenue of Oil and Gas Development Company Limited (OGDCL) jumped 36% to reach Rs151 billion during the first six months (July-December) of fiscal year 2021-22 from Rs110.98 billion during the same period of fiscal year 2020-21. Moreover, the company recorded an increase in the realised price of gas at Rs404.28 per one-thousand cubic feet (mcf) in first half of this fiscal year compared to Rs377.93mcf during the same period of last fiscal. Increase in the realised price of LPG stood at Rs113,962 per tonne in the first half of the ongoing fiscal compared to Rs62,826 per tonne during the same period of last year. Furthermore, enhancement in crude oil and LPG production added to the company’s business fortunes. During the first half of this fiscal, OGDCL earned a record net profit of Rs68 billion compared to Rs42 billion during the same period of last fiscal, translating into earnings per share of Rs16.02 compared to Rs 9.82. One of the major reasons for oil sales/revenue/ profit is that in the first seven months of 2021-22 (July-January), car sales surged by 61.5%, trucks and buses sales increased by 66.23%, jeeps and pickups sales jacked up by 56.1% and tractors sale increased by 16%, according to a report released by Pakistan Automotive Manufacturers Association. It is to note here that transport sector is the largest consumer of oil in Pakistan. It accounted for around 76.6% (8.77 million tonnes) of total oil consumption (11.45 million tonnes) during the first six months FY2021-22 compared to 77.2% during the same period of last fiscal, according to Pakistan Oil Companies Advisory Council. The profits generated by OGDCL is a positive sign notwithstanding the Covid-19 outbreak and rising oil prices in the international market due to the tense geopolitical situation. Alongside the increasing profits, the company’s exploration costs have also increased.