The country’s petroleum sales arrived at 1.27mn tons during Sep’24, showcasing a jump of 20% YoY. The jump in sales comes from higher demand amid a decline in MS and HSD prices by 20.19% and 20.06% YoY, respectively. The offtake of MS increased by 22% YoY in Sep’24, settling at 0.63mn tons. Similarly, HSD dispatches augmented by 25% YoY to 0.49mn tons in Sep’24. However, FO sales volumes plunged by 18% YoY, reaching 0.07mn tons due to lower demand for FO-based power generation. On a MoM basis, petroleum sales witnessed an uptick of 5% YoY during Sep’24, owing to lower demand in Aug’24 due to higher rainfall. The sales of MS climbed up by 2% MoM. Likewise, HSD offtake improved by 8% MoM. Meanwhile, the dispatches of FO increased by 7% MoM in Sep’24.
During 1QFY25, total sales of petroleum products decreased by 3% YoY to 3.68mn tons vis-à-vis 3.81mn tons in SPLY. Product-wise data shows a decline in HSD and FO, while sales of MS remained stable; the volumetric sales of MS, HSD, and FO clocked in at 1.85mn tons, 1.42mn tons, and 0.21mn tons, respectively.
PSO’s sales up by 8% YoY in Sep’24
On a company-wide basis, the sales of PSO climbed up by 8% YoY, clocking in at 0.55mn tons in Sep’24. PSO’s offtake of MS, HSD, and FO ascended by 8%, 6% and 17% YoY, respectively. Similarly, the offtake of HASCOL and SHEL swelled up by 76% and 17% YoY, respectively. At the same time, dispatches of APL plummeted by 8% YoY during Sep’24.
During 1QFY25, petroleum sales of PSO and APL declined by 15% and 19% YoY, respectively. Meanwhile, sales of SHEL remained stable at 0.27mn tons. Meanwhile, HASCOL remained exceptional, positing a growth in offtake of 19% YoY.
During 1QFY25, PSO’s market share significantly declined by 6.11% to 44.0% vis-à-vis 50.2% in 1QFY24. Likewise, the market share of APL decreased by 1.7%, arriving at 9.0% YoY in 1QFY25. On the other hand, the market share of SHEL and HASCOL in 1QFY25 climbed up to 7.4% (7.1% in SPLY) and 3.3% (2.7% in SPLY), respectively. Meanwhile, the market share of other OMCs witnessed a massive jump of 6.9% to arrive at 36.3% in 1QFY25.
Courtesy – AHL Research
