September 2, 2021 (MLN): The overall sales volume of the Oil and Marketing industry has increased by 26% YoY to stand at 1.96MTs in the month of August’21 as compared to 1.55MTs in the same month a year ago.
However, on a monthly basis, the sale of Petroleum and Lubricants was down by 1% amid a decline in retail fuel sales due to lesser working days.
The YoY growth in industry sales was largely supported by a surge in economic activity amid higher exports, imports, and growth in LSM on account of rising demand from both local and foreign consumers, a report by Arif Habib Limited said.
Besides, higher sales volumes of HSD, robust growth in automobile sales numbers, rising tourism in Pakistan, and higher reliance on FO-based power plants also boosted the industry’s sales volume.
Cumulatively, during 2MFY22, sales of total petroleum products jumped by 21% YoY to 3.90MTs against 3.22MTs in the same period last year.
Category-wise, HSD, and FO posted double-digit growth of 32% and 63% YoY during Aug’21 with offtake undergoing a jump to 0.67MTs and 0.51MTs respectively. This takes the cumulative 2MFY22 sales of HSD and FO to 1.18MTs and 0.55MTs, up by 18% and 59% YoY respectively.
Similarly, MS sales also moved up by 6% YoY to 0.74MTs during Aug’21 while during 2M of FY22, the sales volume of MS surged by 9% YoY to 1.42MTs.
Company-wise analysis demonstrates that Attock Petroleum Limited (APL) led the volumetric growth chart by posting massive 56% YoY growth in Aug’21 which was majorly contributed by sales growth of FO and HSD by 99% and 65% YoY, respectively.
This growth was followed by Pakistan State Oil Company Limited (PSO), depicting a growth of 36% YoY supported by strong sales growth of FO by 80% YoY and HSD by 32% YoY. Likewise, SHEL also followed suit and recorded a growth of 28% YoY, in Aug’21.
However, HASCOL witnessed a massive decline of 79% YoY due to a decline in sales volumes of MS, HSD, and FO by 82%, 76%, and 70% YoY respectively.
With regards to market share, PSO turned out to be a major winner as it managed to expand its market share by 3.7ppt YoY to 52.2% compared to 48.5% in 2MFY21.
Whereas the market share of APL and SHEL remained stable at 9.3% and 7.2%. However, the market share of HASCOL and Others dropped by 3.5ppt and 0.3ppt YoY to 1.7% and 29.7% respectively in 2MFY22 against 5.1% and 30% in 2MFY21.
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