Pakistan recorded OMC sales of 15.28 million tons down by 8 percent year-on-year (YoY) in fiscal year 2023-24.
According to Arif Habib Limited, this is the lowest-ever sales volume recorded in 18 years.
During the month of June 2024, the OMC industry sales increased by 8 percent YoY | 4 percent MoM to 1.45 million tons. With this, the total sales during FY24 settled at 16.61 million tons, declining by 8 percent YoY, registering the lowest-ever sales since available data (FY06).
The offtake of MS petrol increased by 9 percent YoY in June 2024, settling at 0.70 million tons. Similarly, HSD dispatches increased by 5 percent YoY to 0.57 million tons in June 2024. FO sales volumes showcased an uptick of 6 percent YoY, reaching 0.11 million tons.
On an MoM basis, petroleum sales increased by 4 percent during June 2024 on the back of a fall in the price of MS and HSD, and higher demand for FO-based power generation. The sales of MS climbed up by 15 percent MoM. Likewise, the dispatches of FO surged by 54 percent MoM in Jun’24. Meanwhile, HSD offtake plummeted by 11 percent MoM given the peak harvesting season in May 2024.
During FY24, total sales of petroleum products reduced by 8 percent YoY to 15.28 million tons vis-Ã -vis 16.61mn tons in SPLY, registering the lowest-ever sales since available data (FY06).
Product-wise data shows a decline in all categories; the volumetric sales of MS, HSD, and FO clocked in at 7.14 million tons, 6.26 million tons, and 1.04 million tons, respectively.
Company-Wise Sales
The sales of PSO remained stable on a YoY basis at 0.65 million tons in June 2024. PSO’s offtake of MS, and FO witnessed a growth of 7 percent, and 48 percent YoY, respectively. The dispatches of SHEL climbed up by 12 percent YoY during June 2024. However, the offtake of APL and HASCOL plunged by 15 percent and 37 percent YoY, respectively.
During FY24, petroleum sales of APL, HASCOL, PSO, and SHEL plummeted by 5 percent, 8 percent, 9 percent, and 11 percent YoY, respectively. During FY24, PSO’s market share dropped by 0.6 percent to 49.4 percent vis-à -vis 50.0 percent in FY23. Whereas, the market share of APL increased by 0.4 percent arriving at 9.9 percent YoY in FY24.
The market share of SHEL in FY24 reduced to 7.3 percent (7.6 percent in SPLY). On the other hand, the market share of HASCOL remained unchanged at 2.5 percent. Meanwhile, the market share of other OMCs increased by 0.54 percent to arrive at 30.9 percent in FY24.
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