KARACHI: The total petroleum products sales in Pakistan recorded a jump of 30 per cent on a year-on-year basis and 19 per cent on a month-on-month basis to arrive at 2.18 million tonnes in April 2022, a report showed.
“The growth in sales volumes was primarily attributable to a jump in auto sales leading to surge in demand for motor spirit (MS), higher reliance on furnace oil (FO) based plants, and commencement of harvesting season which augmented high speed diesel (HSD) demand,” Muhammad Iqbal Jawaid at Arif Habib Limited said.
With this, the MS volumes registered a growth of 14 per cent on a year-on-year basis to clock-in at 0.77 million tonnes during the month under review, while dropping 1 per cent on a month-on-month basis.
In addition, HSD volumes ascended by 17 per cent year-on-year and 33 per cent month-on-month settling at 0.92 million in April 2022. Moreover, FO sales volumes swelled up by 146 per cent on a year-on-year basis and 53 per cent on a month-on-month basis during April, reaching 0.43 million tonnes on account of higher demand from independent power producers (IPPs).
During the first ten months of fiscal year 2022, the sales of total petroleum products climbed up 17 per cent to 18.44 million tonnes, compared with 15.83 million tonnes during the same period of last year.
Product wise data showed that double digit jump was witnessed in all categories where the offtake of MS reached 7.45 million tonnes, HSD 7.30 million tonnes and FO clocked-in at 3.11 million tonnes.
The company-wise analysis shows that Pakistan State Oil (PSO) posted a growth of 57 per cent on a year-on-year in April 2022 which was majorly contributed by a jump of 13 per cent in the sales of MS, HSD 40 per cent and FO and 302 per cent on a year-on-year basis.
Similarly, sales of Attock Petroleum Limited (APL) and SHEL also portrayed a jump of 29 per cent and 15 per cent on a year-on-year basis, respectively, whereas, HASCOL’s offtake plummeted by 74 per cent amid hefty fall in MS and HSD volumes.
During the first 10 months of fiscal year 2022, the PSO’s market share climbed up 5 per cent on a year-on-year basis to 51%, compared with 46 per cent during the same period of last fiscal year.
Similarly, the market share of APL and SHEL remained unchanged at 9 per cent and 8 per cent, respectively, whereas, the market share of HASCOL declined 3 per cent on a year-on-year basis to 1 per cent, against 4 per cent during the same period of last year. Meanwhile, the market share of other oil marketing companies (OMCs) declined 31 per cent during the period under review, compared with 33 per cent during the same period of fiscal year 2021.