PSO, Shell, and Attock suffer as petroleum sales in Pakistan massively decline.


Pakistan’s petroleum sales significantly decreased year over year (YoY), falling by 21 percent to 1.22 million tonnes in February 2023 from 1.54 million tonnes in February 2022.

According to data from Arif Habib Limited, the total volume of sales from July through February 2022–2023 (8MFY23) decreased by 19% YoY to reach 11.69 million tonnes (AHL).

Sales of Furnace Oil (FO) fell by 47% YoY in September, while those of High-Speed Diesel (HSD) fell by 19% YoY. Motor Spirit (MS) sales also experienced a YoY decline of 15%.

The overall fuel sales decreased by 16 percent month over month (MoM).

8-Month Statistics
Sales of MS gasoline fell by 15% YoY during the first eight months of the fiscal year 2022–23 (FY23), totaling 5.03 million tonnes. HSD sales took a second-biggest hit, falling by 22% year over year, while FO sails saw a 28% YoY decline.

Corporate Sales
According to the company-wise analysis, sales for Pakistan State Oil (PSO) fell by 19% YoY in February 2023. Sales of MS under the government-run organisation fell by 19% YoY to 0.26 million tonnes. While FO sales fell by 82 percent YoY, HSD sales decreased by 13 percent YoY. During 8MFY23, the overall sales volume under PSO decreased by 18% YoY to 5.95 million tonnes.

On a YoY basis, sales for Attock Petroleum Ltd. (APL) decreased significantly by 23 percent in February 2023 as a result of lower sales for FO, HSD, and MS by 46 percent, 19 percent, and 15 percent, respectively. Overall sales fell by 20% from July to February of FY23 due to sluggish demand for MS, HSD, and FO.

As HSD and MS sales fell by 27% and 14%, respectively, in February 2023, Shell’s offtake decreased by 18% YoY. Overall offtake decreased by 21% YoY for 8MFY23 due to weak MS and HSD sales.

The sales of HASCOL, on the other hand, rose by 5% year over year. Sales of MS increased by 5% YoY during the reviewed period, reaching 0.02 million tonnes, while sales of HSD increased by 6% YoY. The company’s sales for the eight months that ended on February 28, 2022–2023, decreased by 4% YoY to 0.21 million tonnes.


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