KARACHI
The sale of petroleum products increased by 10 per cent to 2.4 million tonnes year on a year-on-year (YoY) basis in August 2017, in line with the expectations of the analysts.
Shell Company lost its market share dropping to 5 per cent in August this year from 9 per cent in the same period last year.
In August 2017-18, oil sales have increased by 4 per cent to 4.6 million tonnes. The analysts anticipate oil sales to improve by 6 per cent to 27.7 million tonnes.
In August 2017, diesel and petrol (White Oil) were the main contributors as their sales were up 25 per cent YoY to 800,000 tonnes and 679,000 tons, respectively.
Strong growth in retail fuel products is attributed to strong growth in auto sales and influx of car imports. The sources said auto sales have grown by 15 per cent YoY in August 2017.
Furnace oil sales were down 7 per cent to 905,000 tonnes due to lower demand from power producers.
Company wise data indicates that Hascol Petroleum (HASCOL) posted sales growth of 65 per cent YoY in Aug 2017 with the installation of new storages at Mehmood Kot and Sahiwal.
Pakistan State Oil (PSO) also outperformed the market growing by 14 per cent helped by higher diesel sales that increased by 57 per cent to 404,000 tones. PSO’s market share improved to 58 per cent in August 2017 versus 56 per cent in the same period last year.
