Cricket is not Cricket without Shahid Afridi

· As per the latest industry reserve figures from the PPIS for Dec’25, rising by 6%/4% for oil and gas, respectively.  · We reiterate our ‘BUY’ stance on OGDC, PPL, MARI and POL, with Dec’26 target prices of PkR522/412/935/850 per share, respectively. Industry reserves see modest upgrade in Dec'25: As per the latest reserve figures published by PPIS for Dec'25, the industry's balance recoverable reserves improved on both fronts, with oil balance recoverable rising to 253mn bbls (+6%YoY) from 238mn bbls and gas balance recoverable increasing to 18,854 bcf (+4%YoY) from 18,142bcf. The aforementioned increase during the period is behest of the accelerated exploration and appraisal activity, leading to estimate reserve replacement ratio of 1.2x/1.5x for oil and gas, respectively (assuming latest production levels). Critically, oil reserve depletion improved to 81% (vs. 82% in Dec'24), the first improvement in several years, while gas depletion stabilized at 72%, indicati...

Oil on track for weekly loss even as Iran tensions simmer Oil prices fell on Friday and are on track to snap a two-week winning streak , despite settling higher in the previous session following a report that U.S. President Donald Trump is not interested in returning to previous deal terms with Iran . Brent crude futures were down 25 cents, or 0.3%, to $89.45 a barrel by 0035 GMT . West Texas Intermediate crude futures fell 22 cents, also 0.3%, to $83.31 . Both benchmarks were poised to end the week lower , with Brent down 5.3% and WTI falling 4.3% . Citing people familiar with the matter, the Wall Street Journal report said the Trump administration has repeatedly told mediators it has no interest in reviving the June memorandum of understanding , complicating diplomatic efforts to restart talks . Earlier on Thursday, Washington said it was not in talks with Iran despite diplomatic efforts by other countries to re-engage the two sides . On Monday, the U.S. announced what it called ...