Pakistan OMC sales fall 2% in September as PSO gains market share

Pakistan’s oil marketing companies sold 1.346 million tons of petroleum products in September, down 2% from a year earlier, while volumes for the first quarter of fiscal 2027 rose 6%, according to data compiled by AKD Securities from the Oil Companies Advisory Council.

September volumes compared with 1.370 million tons a year earlier and 1.261 million tons in August, representing a 7% monthly increase.

The annual decline was led by weaker high-speed diesel and motor gasoline sales, while furnace oil volumes increased sharply from a low base.

High-speed diesel sales fell 11% from a year earlier to 525,000 tons, while motor gasoline volumes declined 5% to 652,000 tons. High-octane blending component sales dropped 57% to 14,000 tons.

Furnace oil sales increased more than sevenfold to 93,000 tons from 13,000 tons a year earlier. Jet fuel volumes rose 19% to 55,000 tons, while kerosene sales increased 53% to 6,000 tons.

For the July-September quarter, total industry volumes reached 4.115 million tons, up 6% from 3.894 million tons during the same period last year.

Pakistan State Oil remained the largest oil marketing company, with September sales rising 12% from a year earlier to 639,000 tons. Its market share increased to 47.5% from 41.6% a year earlier.

How did the major oil marketing companies perform?

PSO strengthened its market position during the quarter, while other major oil marketing companies recorded mixed results. Its first-quarter sales rose 18% to 1.911 million tons, taking its market share to 46.4% from 41.7% during the same period last year.

PSO’s September high-speed diesel sales increased 9% to 269,000 tons, while motor gasoline volumes rose 15% to 302,000 tons. Jet fuel sales increased 20% to 55,000 tons.

The company accounted for 51.2% of industry high-speed diesel sales in September, up from 41.7% a year earlier. Its motor gasoline share increased to 46.4% from 38.4%.

Attock Petroleum Limited reported September sales of 116,000 tons, unchanged from a year earlier, while its first-quarter volumes increased 11% to 364,000 tons.

Its September high-speed diesel sales fell 31% to 37,000 tons, while motor gasoline volumes declined 10% to 50,000 tons.

Hascol Petroleum Limited recorded September sales of 37,000 tons, down 14% from a year earlier. Its first-quarter volumes fell 12% to 114,000 tons.

Wafi Energy sold 110,000 tons in September, down 6% from a year earlier, although first-quarter volumes increased 6% to 348,000 tons.

Cnergyico PK Limited posted a sharp increase in volumes, with September sales reaching 79,000 tons compared with 30,000 tons a year earlier. First-quarter volumes rose to 239,000 tons from 86,000 tons.

Which companies held the largest market shares in the first quarter?

PSO accounted for 46.4% of total industry volumes during the first quarter of FY2027, followed by Attock Petroleum at 8.8%, Wafi Energy at 8.4%, GO at 4.6% and Hascol at 2.8%, according to AKD Securities.

PSO’s quarterly motor gasoline sales increased 25% to 953,000 tons, while high-speed diesel volumes rose 12% to 759,000 tons.

Its first-quarter high-speed diesel market share increased to 48.3% from 41.6% a year earlier, while its motor gasoline share rose to 46.6% from 38.6%.

Overall, petroleum sales remained above year-earlier levels during the first quarter despite the September contraction, while PSO increased both its sales volumes and share of the market.