Pakistan recorded monthly OMC sales of 1.39 million tons up by 7 percent year-on-year (YoY) and 26 percent month-on-month (MoM) in May 2024.
According to Arif Habib Limited, this is the highest level of petroleum sales in 9 months. Meanwhile, the total sales during July-May (11MFY24) locked in at 13.83 million tons, down 9 percent YoY.
High-Speed Diesel (HSD) sales reached 640,000 tons in May 2024, up by 18 percent YoY and 37 percent MoM.
MS sales have increased by 1 percent YoY and 14 percent MoM to 610,000 tons during the period in review.
Ex-Furnace Oil (FO) sales clocked in at 0.07 million tons in May 2024, down 24 percent YoY but up a whopping 131 percent MoM.
Among listed entities, Pakistan State Oil (PSO) sales for May 2024 increased by 11 percent YoY and 19 percent MoM to 670,000 tons. FO sales by the state oil seller rose 42 percent YoY and 335 percent MoM.
Shell Pakistan (SHEL) sales increased by 13 percent YoY and 23 percent MoM to 100,000 tons. Similarly, Attock Petroleum (APL) sales also increased by 14 percent YoY and 42 percent MoM to 140,000 tons.
Fuel sales at Hascol Petroleum Limited (HASCOL) declined by 39 percent YoY but improved by 51 percent MoM to 40,000 tons in May 2024.
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