April 04, 2023 (MLN): The sale of oil marketing companies (OMCs) decreased by 39% YoY and 9% MoM to clock in at 1.11 million tonnes (MTs), hitting the 35 months low in March 2023.
The significant decline in oil sales is primarily attributed to the surge in petroleum prices, a notable reduction in automobile sales, and a decrease in FO-based power generation.
Similarly, the sale of Furnace Oil (FO), High-Speed Diesel (HSD), and Motor Spirit (MS) dropped by 70% YoY, 43% YoY and 28% YoY to stand at 0.09 MTs, 0.40 MTs, and 0.56 MTs, respectively.
While on monthly basis, the sales of FO and HSD edged lower by 28% MoM and 17% MoM, respectively, whereas the sale of MS inched up by 1% MoM.
In 9MFY23, the oil sales reduced by 21% YoY to reach at 12.80 MTs compared to 16.26 MTs in 9MFY22.
PSO's sales reduced by 44% YoY due to a decline in the sales of MS, HSD, and FO by 26%, 45%, and 91% YoY, respectively.
Similarly, APL and SHEL also witnessed a decline in sales by 30% and 38% YoY, respectively. However, HASCOL's sales showed a significant increase of 3.4 times YoY.
In9M FY23, PSO managed to improve its market share by 0.6% to 50.6% as compared to 50.0% in the same period last year.
APL and SHEL, on the other hand, maintained their market share at 9.3% and 7.7% YoY respectively. Meanwhile, HASCOL's market share increased to 2.0% in 9MFY23, compared to 1.4% in the same period last year.
