OMC Sales in Dec 2024 Up 3% YoY, Down 19% MoM

Staff Report:

Pakistan’s Oil Marketing Companies (OMCs) recorded sales of 1.28 million tons in December 2024, a 3% year-on-year (YoY) increase. This growth was supported by lower petroleum product prices, macroeconomic stabilization, and reduced smuggling.

Total sales for the first half of FY25 (1HFY25) stood at 8 million tons, up 4% YoY compared to 7.7 million tons in 1HFY24.OGRA HOSTS WORKSHOP ON TRACK AND TRACE TECHNOLOGY FOR OMC’S

Excluding Furnace Oil (FO), December 2024 sales reached 1.2 million tons, marking a 7% YoY rise but a 20% month-on-month (MoM) decline. For 1HFY25, ex-FO sales totaled 7.7 million tons, reflecting an 8% YoY increase.

Product Highlights
• Motor Spirit (MS): Sales declined by 1% YoY and 15% MoM to 566,000 tons in December 2024, primarily due to reduced economic activity during winter.
• High-Speed Diesel (HSD): Sales rose by 12% YoY but fell by 27% MoM to 573,000 tons, driven by lower prices.

• Furnace Oil (FO): Sales dropped by 48% YoY but increased by 12% MoM to 41,000 tons.

Company Highlights
• Attock Petroleum (APL): Sales stood at 111,000 tons in December 2024, down 14% YoY and 15% MoM, mainly due to an 89% YoY and 62% MoM drop in FO sales. APL’s market share increased to 8.71% in MS and 9.48% in HSD, up by 75 basis points (bps) and 96 bps, respectively, from November 2024.

• Pakistan State Oil (PSO): Sales fell by 4% YoY and 28% MoM to 572,000 tons. PSO’s market share declined to 45.99% in HSD and 40.54% in MS, dropping 845 bps and 409 bps, respectively, compared to November 2024. The overall market share decreased from 51% in November 2024 to 45% in December 2024, mainly due to reduced HSD sales.

• Shell Pakistan (SHEL): Sales rose 5% YoY but fell 8% MoM to 95,000 tons.

• HASCOL: Sales increased by 59% YoY and 25% MoM to 43,000 tons.

The government aims to collect Rs1.28 trillion in Petroleum Development Levy (PDL) for FY25, with Rs557 billion (43%) estimated to have been collected during 1HFY25.