OMCs: Oil sales down by 12% YoY in November 2022

December 02, 2022 (MLN): Pakistan’s oil marketing companies (OMCs)’ sales declined in November 2022 by 12% YoY and 7% MoM to 1.55 million tons (MTs), compared to 1.99 MTs in November 2021 and 1.66 MTs in October 2022, owing to the higher petroleum prices, lower generation of power particularly Furnace Oil (FO) based, and a drop in automobile sales.

Product-wise, the sales of Motor Spirit (MS) depicted a fall of 3% YoY, to clock in at 0.67mn tons while High Speed Diesel (HSD) volumes moved down by 18% YoY, to settle at 0.67mn in November 2022. Meanwhile, FO sales volumes dropped by 22% YoY to stand at 0.14mn tons.

On monthly basis, volumes of MS, HSD, and FO witnessed a reduction of 1%, 6%, and 33% MoM, respectively.

Cumulatively, the sales by OMCs dived by 20% YoY to clock in at 7.70MTs in 5MFY23, compared to 9.60MTs in 5MFY22. During this period, the sales of MS, HSD, and FO witnessed a fall of 16% YoY, 24% YoY, and 26% YoY compared to the same period last year.

Company-wise analysis showed that the sales of Pakistan State Oil (PSO) inched down by 2% YoY and 5% MoM to 0.81MTs in the review period while Attock Petroleum (APL) witnessed a 21% YoY and 4% MoM to 0.13MTs.

Meanwhile, Shell Pakistan (SHEL) reported a 21% YoY and 10% MoM drop in sales to 0.11MTs in the review period.

The sales recorded by HASCOL worsened by 30% MoM whereas it increased by 16% YoY in November 2022 to stand at 0.021MTs.

During 5MFY23, the total sales by PSO, APL, SHEL and HASCOL stood at 4.02MTs, 0.71MTs, 0.57 and 0.13MTs, showing a plunge of 18% YoY, 21% YoY, 23% YoY, and 2% YoY, respectively.

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