Sales of Pakistan’s oil marketing companies (OMCs) dropped in November 2022 by 12 percent YoY and 7 percent MoM to 1.55 million metric tonnes (MT), down from 1.66 MT in October 2022 and 1.99 MT in November 2021. This decline was caused by higher petroleum prices, lower power generation, and a decline in car sales.
Product-wise, sales of Motor Spirit (MS) declined by 3 per cent YoY to reach 0.67 million tonnes, while sales of High Speed Diesel (HSD) decreased by 18 per cent YoY to reach 0.67 million in November 2022. In the meantime, FO sales volumes fell by 22 per cent YoY to 0.14 million tonnes.
Volumes of MS, HSD, and FO decreased on a monthly basis by 1 per cent, 6 per cent, and 33 per cent MoM, respectively.
Overall, OMC sales decreased by 20 per cent YoY to 7.70 MTs in 5MFY23 from 9.60 MTs in 5MFY22, a 20 per cent drop. When compared to the same period previous year, the sales of MS, HSD, and FO fell by 16 per cent YoY, 24 per cent YoY, and 26 per cent YoY, respectively.
As per company-level analysis, Attock Petroleum (APL) saw sales increase by 21 per cent YoY and 4 per cent MoM to 0.13MTs during the review period, while Pakistan State Oil (PSO) saw sales decline by 2 per cent YoY and 5 per cent MoM to 0.81MTs.
In the meantime, sales at Shell Pakistan (SHEL) fell by 10 per cent MoM and 21 per cent YoY during the review period, to 0.11MTs.
In November 2022, HASCOL’s sales plummeted by 30 per cent MoM and 16 per cent YoY, respectively, to reach 0.021MTs.
PSO, APL, SHEL, and HASCOL’s combined sales for 5MFY23 were 4.02MT, 0.71MT, 0.57MT, and 0.13MT, respectively, representing declines of 18 per cent YoY, 21 per cent YoY, 23 per cent YoY, and 2 per cent YoY.
