Pakistan's Oil and Gas Marketing Sector's sales up by 18% YoY, PSO 11% YoY in October 2024

Pakistan’s total petroleum dispatches settled at 1.49 million tons during Oct’24 (the highest since Nov’ 22), representing an 18% year-over-year growth. The jump in sales is due to higher demand amid a decline in MS and HSD prices by 19% and 20% YoY, respectively.
The offtake of MS increased by 15% YoY in Oct’24, settling at 0.67mn tons.
HSD dispatches augmented by 22% YoY to 0.69mn tons in Oct’24.
FO sales volumes climbed by 8% YoY, reaching 0.06mn tons, due to higher demand for FO-based power generation.
On a MoM basis, petroleum sales jumped up by 17% during Oct’24 owing to i) a fall in petroleum product prices, ii) higher HSD demand due to harvesting season, and iii) curbs on smuggled petroleum from Iran.
The sales of MS witnessed an uptick of 5% MoM.
HSD offtake improved by 39% MoM.
The dispatches of FO dwindled by 17% MoM in Oct’24.
During 4MFY25, total sales of petroleum products went up by 2% YoY to 5.18mn tons vis-à-vis 5.08mn tons in SPLY.
Product-wise data shows growth in MS and HSD, while sales of FO depicted a decline; the volumetric sales of MS, HSD, and FO clocked in at 2.52 million tons, 2.10 million tons, and 0.27 million tons, respectively.

PSO’s offtake was up by 11% YoY in Oct’24

On a company-wide basis, PSO sales climbed by 11% year over year, clocking in at 0.70mn tons in October ’24.
PSO’s offtake of MS, HSD, and FO ascended by 16%, 6% and 71% YoY, respectively.
The offtake of SHEL and HASCOL augmented by 12% and 19% YoY, respectively.
Meanwhile, APL dispatches remained unchanged during the period.
In 4MFY25, sales of PSO and APL declined by 9% and 14% YoY, respectively.
On the other hand, the offtake of SHEL and HASCOL went up 17% and 5% YoY, respectively, in 4MFY25.
PSO’s market share in 4MFY25 significantly declined by 5.3% to 44.8% vis-à-vis 50.1% in SPLY.
The market share of APL decreased by 1.7%, arriving at 8.8% YoY in 4MFY25.
On the other hand, SHEL and HASCOL’s market share in 4MFY25 climbed to 7.3% (7.1% in SPLY) and 3.3% (2.8% in SPLY), respectively.
Meanwhile, the market share of other OMCs jumped massively by 6.3% to 35.9% in 4MFY25.
Considering the growth in MS and HSD sales, the Petroleum Development Levy collection has increased to ~PKR 103bn in Oct’24, up 26% YoY | 19% MoM.
With this, the PDL collection in 4MFY25 stands at ~PKR 354bn, up 15% YoY.