Pakistan OMCs sales expected at 1.5mn tons in Feb-2022, up 10% YoY

Pakistan oil sales in Feb-2022 are likely to increase by 10% YoY primarily driven by Furnace oil (FO) demand which is expected to improve by 28% YoY. Excluding FO, the same are expected to be up by 7% YoY.

Motor Spirit (MS) and High-Speed Diesel (HSD) sales are expected increased by 4% YoY and 8% YoY, respectively.

Oil sales are expected to decline by 15% MoM in Feb-2022, due to decline in HSD sales by 20% MoM, followed by 13% and 12% decline in the sales of FO and MS respectively.

While In 8MFY22, Oil sales are likely to grow by 14% YoY, where FO, HSD and MS volumes will increase by 14% YoY, 18% YoY, and 10% YoY respectively amidst improvement in economic activity and uptick in auto sales.

In Feb-2022, Attock Petroleum (APL) sales are expected to increase the most by 27% YoY, (led by massive surge in FO sales by 73% YoY), while Pakistan State Oil’s (PSO) and Shell Pakistan’s (SHEL) sales may improve by 16% YoY and 4% YoY, respectively. HASCOL is expected to report a decline of 40% YoY in their overall sales volume.

HASCOL share in MS is expected to fall from 3% in Jan-2022 to 2.4% Feb-2022. Pakistan State Oil (PSO) picked up the spoils by strengthening its share from 41.9% in Jan-2021 to 42.5% in Feb-2022, followed by APL which is expected to improve by 0.7% in their MS market share.

Courtesy – AL Habib Capital Markets Pvt Ltd

Sharing is caring

Leave a Reply