According to a Bloomberg report, Pakistan State Oil is eyeing to retain its 55% market share in Pakistan. Despite a drop in furnace oil demand, the Chief Executive, Sheikh Imran ul Haque has said that PSO is working hard to retain its share in the local market.
Industry sales are expected to decline during the current fiscal year 2018. The demand is expected to drop by 0.5 million tons year on year as Pakistan increases its LNG consumption.
Gasoline sales during the year are expected to rise by 10% year on year; Diesel sales are expected to increase 4 – 6%. Company is currently buying directly from the traders via Fujarah, Bloomberg reported.