Pakistan Oil and Gas Marketing Sector performance in March 2, 2021

Feb’21: Petroleum Sales Increased by 26% YoY

Total Petroleum and Lubricant sales clocked-in at 1.40mn tons in Feb’21, depicting a double digit growth of 26% YoY while down by 8% MoM due to fewer working days in February compared to January. The growth in sales volumes is primarily attributable to i) resilience displayed by the economy and the ensuing demand for MS, ii) better agricultural yields resulting in higher sales of HSD, iii) cheaper MS and HSD prices compared to SPLY, iv) massive growth in two/three/four-wheeler offtake, v) absence of CNG at fuel stations increasing the demand of MS, and vi) strict control on borders to control supply of illegal or dumped fuel from Iran.

During 8MFY21, sales of total petroleum products increased by 13% YoY to 12.67mn tons vs. 11.24mn tons in 8MFY20. Dissection of data revealed that major contribution to growth came from HSD and FO as their offtake jumped to 4.84mn tons and 2.09mn tons, up by 15% and 36% YoY against 4.21mn tons and 1.54mn tons in SPLY.

Courtesy – AHL Research

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