Petroleum sales grew 57% in April 2021

May 4, 2021

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Pakistan’s petroleum products sales increased by 57% YoY in April 2021 taking July’2020 to April’2021 volumetric growth to 18% YoY.

To highlight, petroleum sales remained robust and posted strong YoY growth on the back of lower base effect given COVID induced lockdowns in last year and rebound in economic activity with growth recorded across all major products.

During the month of April-2021, PSO recorded sales growth of 100%, Attock petroleum 41%, and Shell Pakistan 65% YoY growth while HASCOL witnessed a decline of 59% YoY during the month.

In April 2021, PSO’s sales volume almost doubled as sales reached 778Kilo Tons marking an increase of 100% YoY. This impressive increase in sales was a result of higher sales across all segments as Petrol/Diesel sales grew by 109% while Furnace Oil sales increased by 12x YoY.

PSO was able to regain its market share in both Petrol and Diesel.

Attock Petroleum Ltd witnessed a growth of 41% as its petroleum sales clocked in at 135 Kilo Tons. Petrol volume was up by 26% while Furnacne Oil sales volume increased by 207% YoY mainly on account of the low base effect.

Attock Petroleum’s market share for Petrol and Diesel declined to 7.4 and 6.3% each.

SHELL Pakistan sales volumes increased by 65% YoY (up 3.5% MoM) where petrol and Diesel sales were up by 10.8% and 7.4% YoY respectively.
HASCOL continued its downward trend and volumes declined by59%YoY to clock in at 34 Kilo Tons.

Going onward, Petroleum sector is expected to outperform owing to resolution of circular debt, which is likely to ease up cash flows of the sector. Petrol sales are expected to continue rising growth in 2021 due to improved economic activities.