In the fiscal year 2023–24, Pakistan reported OMC sales of 15.28 million tons, an 8 percent year-over-year (YoY) decrease. This is the lowest sales volume that Arif Habib Limited has seen in 18 years.
June 2024 saw an 8% YoY | 4% MoM increase in sales for the OMC industry, reaching 1.45 million tons. As a result, overall sales for FY24 came to 16.61 million tons, down 8% year over year and the lowest since data from FY06 was available.
In June 2024, the consumption of MS gasoline rose by 9% year over year to reach 0.70 million tons. Similarly, in June 2024, HSD dispatches rose by 5% YoY to 0.57 million tons. Sales volumes for FO showed a 6% YoY increase to 0.11 million tons.
June 2024 saw a 4% increase in petroleum sales on a month-over-month basis due to a decrease in the price of MS and HSD as well as an increase in the demand for FO-based power generation. MS sales increased by 15% month over month. Similarly, FO dispatches increased by 54% MoM on June 24. In the meantime, given the peak harvesting season in May 2024, HSD offtake fell by 11% MoM.
In comparison to 16.61 million tons in SPLY, total sales of petroleum products decreased by 8% YoY to 15.28 million tons in FY24, marking the lowest sales since data from FY06 became available.
The volumetric sales of MS, HSD, and FO were 7.14 million tons, 6.26 million tons, and 1.04 million tons, respectively. Product-wise data indicates a reduction in all categories.
APL, HASCOL, PSO, and SHEL saw a 5 percent, 8 percent, 9 percent, and 11 percent YoY decline in their petroleum sales during FY24. PSO’s market share decreased to 49.4% in FY24 from 50.0 percent in FY23, a decrease of 0.6 percent. In contrast, APL’s market share grew by 0.4 percent to reach 9.9 percent YoY in FY24.
In FY24, SHEL’s market share dropped to 7.3 percent (compared to 7.6 percent in SPLY). HASCOL’s market share, however, stayed at 2.5 percent throughout. In the meantime, other OMCs’ market share rose by 0.54 percent to 30.9 percent in FY24.
