Pakistan’s total petroleum sales surged by 16 percent during fiscal year 2021-22 (FY22) compared to fiscal year 2020-21 (FY21) while declining by 11 percent on a month-on-month (MoM) basis in June 22, according to a report published by Arif Habib Limited Securities.
The petroleum sales hit 22.55 million tonnes (MT) in FY22 compared to 19.45 MT in FY21. The sales remained stable in June 22 on a year-on-year (YoY) basis.
According to the report, the MoM decline in June 22 has been caused by the recent hike in the prices of petrol (MS) and high-speed diesel (HSD). The petrol offtake reduced by 10 percent YoY and 12 percent MoM in Jun 2022 hitting only 0.70 MT. HSD declined by 8 percent YoY and 16 percent MoM, settling at 0.71 MT in June 22.
Sales of furnace oil (FO), on the other hand, increased by 33 percent YoY while declining by 2 percent MoM. The unprecedented growth in sales of FO on yearly basis was due to the higher offtake of the fuel by independent power producers (IPPs).
In comparison with FY21, petrol sales increased by 9 percent, HSD by 15 percent and FO by 35 percent, settling at 8.96 MT, 8.87 MT, and 4.05 MT respectively in FY22.
Sales of Pakistan State Oil (PSO) experienced the greatest increase, growing by 29 percent, followed by Attock Petroleum Limited with 22 percent, and Shell with 13 percent. HASCOL, on the other hand, recorded a decrease of 66 percent in FY22 compared to FY21.
PSO’s market share increased by 5 percent from 46 percent to 51 percent in FY22, whereas the market share of APL and Shell remained unchanged.
