Total Petroleum sales settled at 1.66mn tons in Oct’22, depicting a decline of 17% YoY given i) higher petroleum prices, ii) lower FO-based power generation, and iii) a plunge in automobile sales. MS witnessed a fall of 11% YoY, to settle at 0.68mn tons in Oct’22. Similarly, High Speed Diesel (HSD) volumes shrunk by 15% YoY, to arrive at 0.71mn in Oct’22. Whereas, Furnace Oil (FO) sales volumes plummeted by 37% YoY in Oct’22, to clock in at 0.20mn tons. Meanwhile, petroleum offtake showcased a MoM growth of 9% during Oct’22 amid i) mobility across the country post floods, ii) commencement of sowing for Rabi season, and iii) a decrease in MS and HSD prices. Volumes of MS and HSD reported a jump of 8% and 37% MoM, respectively. However, FO sales dropped by 33% MoM in Oct’22.

During 4MFY23, sales of total petroleum products reduced by 22% YoY to 6.15mn tons against 7.85mn tons in SPLY. Product-wise data showed a decline in all categories; offtake of MS, HSD and FO settled at 2.54mn tons, 2.17mn tons and 1.19mn tons, respectively.

Company-wise analysis depicts that PSO’s offtake displayed a decline of 18% YoY in Oct’22 which was majorly contributed by a plunge in sales of MS, HSD and FO by 18%, 11% and 43% YoY, respectively. Similarly, sales of APL and SHEL plummeted by 16% and 21% YoY, respectively due to fall in sales of MS and HSD. Whereas, HASCOL reported a growth of 46% YoY given higher MS and HSD sales.

During 4MFY23, market share of PSO, APL and SHEL remained unchanged at 52%, 9%, and 7% YoY, respectively. Meanwhile, HASCOL’s market share in 4MFY23 improved to 1.8% (1.5% in SPLY). However, the market share of other OMCs declined to 29% in 4MFY23 compared to 30% in 4MFY22 .

Courtesy – AHL Research