Petroleum sales in Pakistan reached 1.27 million tons in September 2024, reflecting a 20% year-on-year (YoY) increase. This rise is attributed to heightened demand alongside a significant reduction in Motor Spirit (MS) and High-Speed Diesel (HSD) prices, which fell by 20.19% and 20.06% YoY, respectively.
Sales Breakdown
- Motor Spirit (MS): The offtake increased by 22% YoY, amounting to 0.63 million tons.
- High-Speed Diesel (HSD): Sales rose by 25% YoY, reaching 0.49 million tons.
- Furnace Oil (FO): Conversely, FO sales plummeted by 18% YoY to 0.07 million tons due to reduced demand for FO-based power generation.
Month-on-Month Performance
On a month-on-month (MoM) basis, petroleum sales grew by 5% in September 2024, recovering from a dip in August caused by increased rainfall:
- MS Sales: Increased by 2% MoM.
- HSD Sales: Improved by 8% MoM.
- FO Sales: Rose by 7% MoM.
Read More: Pakistan Reduces Petroleum Prices by Up to Rs3.40 Per Litre
Quarterly Overview
During the first quarter of FY25, total petroleum sales decreased by 3% YoY, totaling 3.68 million tons, down from 3.81 million tons in the same period last year. The product-wise breakdown is as follows:
- MS Sales: Stable at 1.85 million tons.
- HSD Sales: Decreased to 1.42 million tons.
- FO Sales: Reduced to 0.21 million tons.
Company-Wise Sales Performance
- Pakistan State Oil (PSO): Sales increased by 8% YoY, totaling 0.55 million tons in September 2024, with MS, HSD, and FO offtake rising by 8%, 6%, and 17% YoY, respectively.
- HASCOL: Offtake surged by 76% YoY.
- Shell (SHEL): Increased by 17% YoY.
- Attock Petroleum Limited (APL): Experienced a decline, with dispatches falling by 8% YoY.
In FY25’s first quarter, PSO and APL saw declines in sales, down 15% and 19% YoY, respectively. Conversely, SHEL’s sales remained stable at 0.27 million tons, while HASCOL reported a 19% YoY growth.
Market Share Insights
In FY25’s first quarter, PSO’s market share decreased significantly by 6.11%, falling to 44.0%, compared to 50.2% in FY24’s first quarter. APL’s market share also declined by 1.7% to 9.0%. However:
- SHEL’s market share increased to 7.4% (up from 7.1%).
- HASCOL saw its market share rise to 3.3% (up from 2.7%).
- Other oil marketing companies (OMCs) gained a notable 6.9% in market share, reaching 36.3% in FY25.
These trends underscore shifting dynamics within Pakistan’s petroleum sector, highlighting increased demand in specific segments while indicating challenges for certain companies.
