November 02, 2022 (MLN): Pakistan’s oil marketing companies (OMCs)’ sales declined in October 2022 by 17% YoY to 1.66 million tons (MTs), compared to 1.99 MTs in October 2021 owing to the higher petroleum prices, lower generation of power particularly Furnace Oil (FO) based, and a drop in automobile sales.
However, on a sequential basis, oil sales increased by 9% MoM in October 2022, from 1.52 MTs in September 2022.
Product-wise, the sales of Furnace Oil (FO), High-Speed Diesel (HSD), and Motor Spirit (MS) declined by 37% YoY, 15% YoY, and 11% YoY, respectively while on monthly basis, the sales of HSD and MS increased by 37% MoM, and 8% MoM, respectively. Whereas, the sale of FO inched down by 33% MoM.
Cumulatively, the sales by OMCs dived by 22% YoY to clock in at 6.15MTs in 4MFY23, compared to 7.85MTs in 4MFY22. During this period, the sales of MS, HSD, and FO witnessed a fall of `18% YoY, 26% YoY, and 26% YoY compared to the same period last year.
Company-wise analysis showed that Pakistan State Oil (PSO) witnessed an 18% YoY decline while on monthly basis, its sales inched up by 6% MoM to 0.8MTs in October 2022.
Meanwhile, Attock Petroleum (APL) reported a 16% YoY and 2% MoM drop in sales to 0.15MTs in the review period.
The sales recorded by Shell Pakistan (SHEL) worsened by 21% YoY whereas it increased by 11% MoM in October 2022 to stand at 0.11MTs.
During 4MFY23, the total sales by PSO, APL, and SHEL stood at 4.06MTs, 0.73MTs, and 0.59MTs, showing a plunge of 21% YoY, 21% YoY, and 23% YoY, respectively.
Copyright Mettis Link News
Posted on:2022-11-02T10:42:32+05:00
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