The total petroleum and lubricant sales clocked-in at 1.51million tonnes in December 2021, depicting a decline of 6 per cent on a year-on-year basis, a research report by Arif Habib Limited showed.
The decline in sales volume is attributable to lower Furnace Oil (FO) requirement amid slowdown in FO based power generation, as the sales declined 14 per cent on a month-on-month basis.
The FO volumes in December 2021 clocked in at 0.13 million tonnes, down by 47 per cent on a year-on-year basis and 28 per cent on a month-on-month basis compared to 0.24 million tonnes in December 2021 and 0.18 million tonnes in November 2021, respectively.
The total sales volumes of high speed diesel (HSD) witnessed a decline of 6 per cent on a year-on-year basis which was mainly led by volumetric decline of FO and HSD by 47 per cent and 1 per cent on a year-on-year basis, respectively.
The slowdown in sales volumes of HSD is due to the lower requirement from the agriculture sector and higher HSD prices.
During the first half of fiscal year 2022, sales of total petroleum products increased by 14 per cent on a year-on-year basis to 11.10 million tonnes as compared to 9.75 million tonnes in the same period last year.
The report revealed that a double digit growth was witnessed in all categories, including Motor Spirit (MS) offtake undergoing a jump of 4.51 million tonnes, HSD 4.36 million tonnes and FO 1.19 million tonnes.
On a calendar year 2021 basis, volumes increased by 19.5 per cent on a year-on-year basis to 20.8 million tonnes attributable to significant growth in all categories.
The APL posted growth of 14 per cent on a year-on-year basis in December 2021, which was majorly contributed by sales growth of HSD and MS by 35 per cent and 10 per cent year-on-year, respectively.
It was followed by Shel, portraying a growth of 3 per cent on a year-on-year basis. However, PSO posted a decline of 5 per cent, and Hascol 58 per cent on a year-on-year basis due to the significant decline in sales volumes.
During the first half of FY22, PSO managed to expand its market share by 4 per cent on a year-on-year basis to 50.3 per cent compared to 46.2 per cent in the same period of FY21.
Likewise, the market share of APL and Shel remained stable at 9.4 per cent and 7.8 per cent.
However, market share of Hascol and other oil marketing companies dropped by 3.5 per cent and 1 per cent year-on-year to 1.5 per cent and 31 per cent, respectively.
