October 03, 2018: The country’s oil sales in the first quarter of FY19 reached a four-year low at 4.7 million tons, down by 33% on a year-on-year basis, owing to a plunge in the sales of Furnace Oil by 67% to 848,000 tons.
During the month of September, oil sales witnessed a drop of 21% to 1.8 million tons with Furnace Oil decreasing by 61% to 307,000 tons amidst availability of alternative power generation sources, that is, RLNG and coal.
High-speed diesel sales (HSD) fell by 19% to 1.826 million tons in first quarter of FY19 while petrol sales plummeted by 2% to 1.896 million tons.
The HSD sales during September escalated by 5% to 719,000 tons while petrol sales also rose 5% to 676,000 tons.
Hascol Petroleum outperformed its peers by exhibiting a growth of 13% primarily triggered by HSD sales, up 38% in September, whereas its petrol and FO sales dropped 5% and 6%, respectively.
Pakistan State Oil lost nearly 40% of its volume in the month, with major drag coming from Furnace Oil down by 78%. Adjusting Furnace Oil sales, the company’s volume geared up by 2%.
