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HomeGeneralPakistan OMCs sales at 1.8mn tons in Jan-2022, up 19% YoY

Pakistan OMCs sales at 1.8mn tons in Jan-2022, up 19% YoY

Pakistan oil sales in Jan-2022 increased by 19% YoY primarily driven by High Speed Diesel (HSD) demand which improves by 36% YoY. Excluding FO, same are expected to up by 26% YoY.

The increase in HSD volumes are largely attributable to surge in economic and trade activities, improvement in large scale manufacturing and better agronomics.

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Similarly, Motor Spirit (MS) volumes increased by 17% YoY whereas Furnace Oil (FO) sales reported a decline of 11% YoY amidst high base. To recall, FO volumes increased in Jan-2021 due to high demand from power sector given gas shortages during winters.

While In 7MFY22, Oil sales are expected to grow by 15% YoY, where FO, HSD and MS volumes have increased by 13% YoY, 19% YoY, and 11% YoY respectively amidst improvement in economic activity and uptick in auto sales.

In Jan-2021, Pakistan State Oil’s (PSO) sales have increased the most by 24% YoY, (due to uptick in sales of HSD by 64% YoY), while Attock Petroleum (APL ) and Shell Pakistan’s (SHEL) sales improved by 20% YoY and 11% YoY, respectively.

Also read: The government is concerned about the depletion of gas supplies

Hascol Petroleum (HASCOL) posted a decline in oil sales by 57%. Whereas, HASCOL lost its market share from 7% in Jan-2021 to 3% in Jan-2022 as sales in all segments reported decline.

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