OMCs: HASCOL witnesses the highest decline in sales among its peers

March 03, 2020 (MLN): The total industry volumes for Oil Marketing Companies (OMCs) during Jul-Feb FY20 witnessed a decline of around 8% YoY to 11.17 MTs as compared to 12.20 MTs recorded in the corresponding period of FY19.

In the month of February alone, the total sales volume of the industry plummeted by 22% YoY and 18% MoM. The YoY deterioration in Fuel demand was witnessed across all categories with the major dragged came from 36% YoY drop in the demand of High-Speed Diesel (HSD) as a result of slowdown in economic activity along with closure of border with neighboring countries which ceased exports.

Whereas, on cumulative basis, the sales of all petroleum products taped a decline except Motor Spirit (MS) which posted a slight growth of 1% YoY.

Among four major Oil Marketing players, i.e. PSO, HASCOL, APL and SHEL, HASCOL witnessed the highest decline in sales of about 61% YoY in Feb 2020 primarily due to decline HSD and MS sales. This was followed by PSO and SHELL, whose sales volume shrank by 25%YoY and 24%YoY respectively. Whereas, APL posted a small decline of 12% YoY in its sales compared to its peers.  

With the highest decline in sales, HASCOL’s market share diminished to 7% in February 2020 against 13.8% in Feb 2019, whereas market share of APL improved from 10% to 12.6% in the month under review.

On a month-on month basis, the market share of APL increased to 13% while the share of PSO and HASCOL dropped by 37% and 7% respectively. In addition, the share of SHELL remained flat at 9%.  

 Copyright Mettis Link News

Posted on: 2020-03-03T16:30:00+05:00

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