ISLAMABAD, AUGUST 2: In July 2024, total petroleum sales were 1.20 million tons, representing an 11% YoY decrease.
The decrease in offtake, according to Arif Habib Limited, is the consequence of several factors, including the availability of petroleum products smuggled from Iran, a decline in demand for FO-based power production, and an increase in the price of MS and HSD, which led to decreased consumption.
In July 2024, MS sales dropped 10% year over year to settle with 0.59 million tons.
Similarly, in July 2024, HSD offtake fell by 6% YoY to 0.46 million tons. FO sales volumes totaled 0.08 million tons, a 46% YoY decline.
Because of the aforementioned factors, petroleum product deliveries decreased by 17% on a MoM basis in July 2024. In July 2024, MS offtake fell by 16 percent MoM. In a similar vein, HSD shipments decreased by 18% MoM. FO sales, meanwhile, fell by 27% month over month.
PSO’s sales fell 19% YoY to 0.55 million tons in July 2024 on a company-wide basis. The offtake of MS, HSD, and FO by PSO decreased by 22%, 22%, and 17% YoY, correspondingly. Meanwhile, SHEL, HASCOL, and APL dispatches observed
PSO’s market share decreased by 4.6 percent in July 2024, ending at 45.6 percent as opposed to 50.2 percent in the same month the previous year. Likewise, APL’s market share decreased by 1.2 percent YoY, reaching 8.5 percent in July 2024.
