Petroleum Sales Up 20% in September 2024

The country’s petroleum sales arrived at 1.27 million tons during September 2024, showcasing a jump of 20 percent YoY. The jump in sales comes on the back of higher demand amid a decline in MS and HSD prices by 20.19 percent and 20.06 percent YoY, respectively. The offtake of MS increased by 22 percent YoY in September 2024, settling at 0.63 million tons. Similarly, HSD dispatches augmented by 25 percent YoY to 0.49 million tons in September 2024. However, FO sales volumes plunged by 18 percent YoY, reaching 0.07 million tons due to lower demand for FO-based power generation. On a MoM basis, petroleum sales witnessed an uptick of 5 percent YoY during September 2024 owing to lower demand in August 2024 due to higher rainfall. The sales of MS climbed up by 2 percent MoM. Likewise, HSD offtake improved by 8 percent MoM. Meanwhile, the dispatches of FO increased by 7 percent MoM in September 2024. During 1QFY25, total sales of petroleum products decreased by 3 percent YoY to 3.68 million tons vis-à-vis 3.81 million 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 1.85 million tons, 1.42 million tons, and 0.21 million tons, respectively. On a company-wise basis, the sales of PSO climbed up by 8 percent YoY, clocking in at 0.55 million tons in September 2024. PSO’s offtake of MS, HSD, and FO ascended by 8 percent, 6 percent, and 17 percent YoY, respectively. Similarly, the offtake of HASCOL and SHEL swelled up by 76 percent and 17 percent YoY, respectively. Whereas, dispatches of APL plummeted by 8 percent YoY during September 2024. During 1QFY25, petroleum sales of PSO and APL declined by 15 percent and 19 percent YoY, respectively. Whereas, sales of SHEL remained stable at 0.27 million tons. Meanwhile, HASCOL remained exceptional, positing a growth in offtake of 19 percent YoY. During 1QFY25, PSO’s market share significantly declined by 6.11 percent to 44.0 percent visà-vis 50.2 percent in 1QFY24. Likewise, the market share of APL decreased by 1.7 percent arriving at 9.0 percent YoY in 1QFY25. On the other hand, the market share of SHEL and HASCOL in 1QFY25 climbed up to 7.4 percent (7.1 percent in SPLY) and 3.3 percent (2.7 percent in SPLY), respectively. Meanwhile, the market share of other OMCs witnessed a massive jump of 6.9 percent to arrive at 36.3 percent in 1QFY25.