The sales performance of oil marketing companies (OMCs) in Pakistan took a downturn in April 2024, experiencing a 6% year-on-year drop to 1.10 million tonnes (MTs) compared to 1.17 MTs in April 2023.
On a monthly basis, there was a 4% decline from March 2024’s 1.15 MTs.
For the ongoing fiscal year (10MFY24), cumulative sales stood at 12.44 MTs, marking an 11% reduction from the 13.97 MTs recorded in 10MFY23.
April witnessed a significant 59% decrease in Furnace Oil (FO) sales, with volumes at 29,775 tonnes. Motor Spirit (MS) sales also dropped by 9% to 530,381 tonnes. In contrast, High-Speed Diesel (HSD) sales showed a 2% year-on-year increase, reaching 469,276 tonnes.
Hascol Petroleum Limited (HACOL) faced the most substantial sales decline, down by 23% year-on-year to 27,050 tonnes. Attock Petroleum Limited followed with an 18% decrease, reporting sales of 98,730 tonnes.
Both Pakistan State Oil (PSO) and Shell Pakistan Limited (SHEL) experienced declines of 3% and 7% respectively.
Comparing to March 2024 figures, PSO, APL, and SHEL saw respective decreases of 6%, 4%, and 14%, while Hascol’s sales increased by 6%.
In 9MFY24, all OMCs except Hascol reported sales declines. PSO remained the industry leader with a 50.6% market share in April 2024, followed by APL, SHEL, and HASCOL with market shares of 8.94%, 7.36%, and 2.45% respectively.
