KARACHI: Motor Gasoline (Mogas) recorded highest-ever sale of 0.81 million tons in July 2021, which is 14 percent higher on year-on-year basis. This is 7 percent higher on month-on-month basis.
This was on the back of rising car sales and increased demand from people travelling up North, analysts said.
Furnace Oil (FO) sales also witnessed an increase of 54 percent on YoY to 0.37 million tons primarily due to reduction in LNG supply and increased demand from power sector, Umair Naseer at Topline Securities said. To recall, LNG supply was reduced during end of June due to dry docking and maintenance of ENGRO LNG terminal, he added.
High Speed Diesel (HSD) sales were also up 7 percent on YoY to 0.72 million tons in July 2021.
Consequently, Pakistan’s total oil sales in July 2021 clocked in at 1.94 million tons, up 17 percent on YoY.
Pakistan State Oil (PSO) continued to gain in terms of market share as its share increased to 52 percent in July 2021 versus 48 percent in July 2020. PSO’s FO volumes surged by 130 percent to 0.26 million tons continuing its dominance in the FO business. Strong growth in MS sales, which were up 18 percent on YoY, also lifted PSO’s overall share.
Shell Pakistan (SHEL) also witnessed strong growth of 17 percent on YoY in July 2021 as its oil sales increased to 0.14 million tons, up from 0.12 million tons in the same period last year. Its market share remained stable at 7 percent.
Attock Petroleum (APL) underperformed the market posting sales growth of 4 percent on YoY.
Copyright Business Recorder, 2021