February 2, 2022: Maintaining the robust momentum, the total sales of Oil and Marketing Companies (OMCs) registered a growth of 19% YoY to clock in at 1.8 million tons (MTs) during January 2022, compared to 1.5MTs in January 2021.
This notable growth is attributable to the higher sales of High-Speed Diesel (HSD) and MS, up by 36% YoY and 17% YoY, respectively.
Similarly, on a sequential basis, the companies witnessed a significant surge in total sales by 20% compared to 1.51MTs in December 2021.
Cumulatively, around 13MTs oil was sold during 7MFY22 posted a jump of 14% YoY on the back of restoration of economic activities which pushed the transportation sector to continue its operations normally.
Category wise, the sale of Furnace Oil (FO) dropped by 11% YoY to 0.25 MTs during January 2022. However, compared to the previous month, FO sales upsurged twofold owing to the low base effect.
Meanwhile, HSD sales in January 2022 exhibited an impressive growth of 36% YoY while increasing by 20% MoM to record at 0.74 MTs. During the 7MFY22 period, HSD volumes accumulated to 5.1mn tons as compared to 4.3 MTs in 7MFY21.
MS volumes for the month of January 2022 were recorded at 0.75 MTs, up by 6%MoM and 17%YoY. In 7MFY22, MS volumes cumulated to 5.3 MTs, growing by 11% as compared to 4.7mn tons in 7MFY21.
MS remained to be one of the most significant contributors to overall POL volumes, Fortune Securities said in a report.
Company-wise analysis showed Pakistan State Oil Company Limited (PSO) led the volumetric growth chart as its sales grew by 25% MoM and 24% YoY to clock in at 0.86 MTs. Product-wise, FO and HSD recorded healthy growths of 109% and 35% respectively on a MoM basis. During the 7MFY22 period, PSO’s market share consolidated at 50%.
Considering market shares in MS and HSD during 7MFY22, PSO remained the leader with 44% and 50% share in MS and HSD respectively.
The growth was followed by APL as it marked a total sales of 0.16 MTs in January 2022, demonstrating an increase of 20% YoY. Marginally trailing behind was SHEL, which recorded an 11% YoY increase in total volumetric sales during the review month at 0.136 MTs.
HASCOL however, witnessed a sales contraction of 57% YoY as total volumetric sales reached 0.29 MTs in January 2022 on the back of lower HSD and MS sales.
With regards to market share, PSO grabbed the largest market share of 48%. SHEL and APL remained flat while HASCOL and CNERGYICO both dropped their share by 2pps YoY, respectively
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