OMCs’ sales increase by 10% YoY in February

March 02, 2022 (MLN): The total sales of Oil and Marketing Companies (OMCs) registered a growth of 10% YoY to clock in at 1.53 million tons (MTs) during February 2022, compared to 1.39MTs in February 2021.

This notable growth is attributable to the higher sales of High-Speed Diesel (HSD), MS, and Furnace Oil (FO) up by 8% YoY, 4% YoY and 28% YoY, respectively.

On the other hand, overall industry sales volume declined by 15% on a sequential basis which is mainly on account of lower days in Feb and some impact of the increase in prices, a report by Darson Securities said.

Cumulatively, around 14.44 MTs oil was sold during 8MFY22 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 12% MoM to 652.6 thousand tons during February 2022. Meanwhile, HSD sales in February 2022 exhibited a notable decline of 20% MoM to record at around 592 thousand tons. During the 8MFY22 period, HSD volumes accumulated to 5.7 MTs as compared to 4.8 MTs in 8MFY21.

MS volumes for the month of February 2022 were recorded at 652 thousand tons, down by 12%MoM while in 8MFY22, MS volumes cumulated to 5.9 MTs, growing by 10% as compared to 5.3mn tons in 8MFY21.

Company-wise analysis showed Attock Petroleum Limited (APL) led the volumetric growth chart as its sales grew by 27% YoY whereas, on MoM basis, it dropped by 7% to clock in at 149 thousand tons. Product-wise, FO and HSD recorded healthy growths of 73% and 25% respectively on MoM basis.

This is followed by PSO and SHEL with the growth of 16% and 4% YoY respectively. On the other hand, HASCOL and BYCO posted negative growth of 40% and 41% respectively in the month of February 2022.

With regards to market share, PSO grabbed the largest market share of 48%. Meanwhile, the market share of APL, SHEL BYCO and HASCOL stood at 10%, 8%, 3% and 2%, respectively.

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