AIRLINK 74.40 Decreased By ▼ -0.90 (-1.2%)
BOP 4.95 Increased By ▲ 0.01 (0.2%)
CNERGY 4.34 Decreased By ▼ -0.05 (-1.14%)
DFML 44.73 Increased By ▲ 3.55 (8.62%)
DGKC 87.27 Increased By ▲ 3.96 (4.75%)
FCCL 22.90 Increased By ▲ 1.25 (5.77%)
FFBL 31.65 Decreased By ▼ -0.35 (-1.09%)
FFL 9.36 Decreased By ▼ -0.06 (-0.64%)
GGL 10.10 Increased By ▲ 0.02 (0.2%)
HASCOL 6.77 Decreased By ▼ -0.05 (-0.73%)
HBL 113.60 Decreased By ▼ -0.40 (-0.35%)
HUBC 140.15 Increased By ▲ 1.05 (0.75%)
HUMNL 11.91 Decreased By ▼ -0.09 (-0.75%)
KEL 4.87 Decreased By ▼ -0.04 (-0.81%)
KOSM 4.40 Increased By ▲ 0.04 (0.92%)
MLCF 38.40 Increased By ▲ 0.89 (2.37%)
OGDC 132.80 Decreased By ▼ -0.05 (-0.04%)
PAEL 24.45 Decreased By ▼ -0.40 (-1.61%)
PIBTL 6.53 Decreased By ▼ -0.07 (-1.06%)
PPL 119.64 Increased By ▲ 1.84 (1.56%)
PRL 25.88 Decreased By ▼ -0.18 (-0.69%)
PTC 13.75 Increased By ▲ 0.03 (0.22%)
SEARL 57.25 No Change ▼ 0.00 (0%)
SNGP 66.40 Decreased By ▼ -0.10 (-0.15%)
SSGC 10.15 Decreased By ▼ -0.09 (-0.88%)
TELE 7.95 Decreased By ▼ -0.26 (-3.17%)
TPLP 10.64 Decreased By ▼ -0.06 (-0.56%)
TRG 61.66 Decreased By ▼ -0.74 (-1.19%)
UNITY 26.63 Decreased By ▼ -0.41 (-1.52%)
WTL 1.36 Increased By ▲ 0.01 (0.74%)
BR100 7,835 Decreased By -10.7 (-0.14%)
BR30 25,330 Increased By 74.3 (0.29%)
KSE100 74,878 Increased By 41.8 (0.06%)
KSE30 23,988 Decreased By -16.5 (-0.07%)

KARACHI: Pakistan oil sales in October 2022 increased by 9.0 percent on month-on-month basis to 1.66 million tons mainly due to improved mobility of vehicles post-floods, start of Rabi sowing season and decline in prices compared to previous month.

HSD/ MOGAS sales increased by 37/8 percent on M-o-M, respectively, while FO declined by 33 percent.

However, oil sales recorded 16 percent decline in October 2022 as compared to the same month last year due to fall in all major petroleum products; MOGAS down by 11 percent YoY, HSD down by 15 percent YoY, and FO down by 37 percent.

The YoY drop in oil sales is primarily due to rise in fuel prices, lower car sales, reduced overall economic activity and lower FO based power generation, Nasheed Malik at Topline Securities said.

Among the listed entities, Pakistan State Oil (PSO) sales posted an increase of 6 percent on MoM and decline of 18 percent on YoY to 851,000 tons. PSO market share declined to 51 percent in October 2022 compared to 52 percent share at the same time last year (Oct-21).

Attock Petroleum (APL) sales declined 2.0 percent on MoM and 16 percent on YoY. While, Shell Pakistan sales increased by 13 percent on MoM and declined by 19 percent on YoY. APL and SHEL market share for Oct-22 was 8 percent each, respectively compared to 8 percent share at the same time last year (Oct-21).

During 4M-FY23, oil sales are down 22 percent on YoY to 6.15 million tons due to economic slowdown with decline visible in all major petroleum products. The harsher monsoon season and consequent floods have also had a major impact on sales.

Product wise FO and HSD have witnessed the most major drop with a decline of 26 percent on YoY, while MOGAS sales declined by 18 percent on YoY.

We expect FY23 oil sales to drop by 20-25 percent on YoY, mainly due to reduced economic activity, decline in auto sales and higher petroleum prices,” Nasheed Malik said.

Copyright Business Recorder, 2022

Comments

Comments are closed.