According to a report by Topline Pakistan Research, Pakistan’s Oil Marketing Companies (OMCs) recorded sales of 1.53 million tons in May 2025, up 10% year-over-year (YoY) and 5% month-over-month (MoM). The rise was driven by a combination of lower petrol and diesel prices, a seasonal surge in demand for High-Speed Diesel (HSD) from wheat harvesting, reduced smuggling and improved economic activity. This brings the total sales for 11MFY25 to 14.76 million tons, reflecting a 7% year-over-year (YoY) increase compared to 13.83 million tons in 11MFY24.
Excluding Furnace Oil (FO) sales in May 2025 were 1.45mn tons, reflecting a 10% YoY and 6% MoM rise. For 11MFY25, Ex-FO sales totalled 14.08mn tons, a 9% YoY rise.
Product wise: Motor Spirit (MS) sales saw a 15% YoY and 6% MoM increase to 700k tons in May 2025. Similarly, HSD sales rose 5% year-over-year (YoY) and 8% month-over-month (MoM) to 672,000 tons. FO sales for May 2025 increased by 16% year-over-year (YoY) but decreased by 5% month-over-month (MoM) to 80,000 tons.
Company-wise: Among the listed entities, Attock Petroleum (APL) sales clocked in at 137,000 tons in May 2025, down 2% year-over-year (YoY) but up 9% month-over-month (MoM), primarily driven by a 2% YoY and 30% MoM rise in HSD sales. APL has a market share of 8.23% in MS and 9.54% in HSD, down three basis points but up 161 basis points, respectively, in May 2025.
Pakistan State Oil (PSO) saw a 3% year-over-year (YoY) decline, up 3% Month-over-month (MoM) to 6,642,000 tons in May 2025. PSO’s market share in HSD and MS clocked in at 44.21% and 40.47%, down 32bps and 99bps MoM, respectively, in May 2025. PSOs’ overall market share fell from 42.78% in April 2025 to 41.91% in May 2025, down 87 basis points, primarily led by a decrease in MS market share.
Wafi Energy Pakistan Limited (WAFI) recorded sales of 123,000 tons in May 2025, up 23% year-over-year (YoY), marking an almosty~2.5-year high. At the same time, HASCOL’s sales rose to a nearly 2-year high of 54,000 tons, up 31% year-over-year (YoY) and 13% month-over-month (MoM).
The government has set a Petroleum Development Levy (PDL) collection target of Rs1.28 Trillion for FY25, of which Rs1.08 billion (84%) has been collected in 11MFY25, we believe.
