Pakistan’s August petroleum product sales drop 14%

Pakistan’s August petroleum product sales drop 14%

petrol pumps / Unsplash - Marek Studzinski

By bno - Mumbai Office September 5, 2024

The sale of total petroleum products in Pakistan for August reached 1.22mn tonnes, marking a 14% year-on-year decline, according to a report by Business Recorder. The decrease is attributed to the availability of smuggled petroleum products from Iran and increased rainfall during the period, the newspaper added.

Petrol offtake fell by 7% y/yin August, amounting to 0.62mn tonnes, while high-speed diesel (HSD) dispatches dropped by 17% y/y to 0.46mn tonnes. Furnace oil sales experienced a significant reduction of 45% y/y, falling to 0.06mn tonnes.

On a month-on-month basis, overall offtake increased by 2% during August. For the July-August period, the first two months of FY25, total petroleum product sales declined by 12% y/y to 2.41mn tonnes.

Product-wise data showed declines across all categories: petrol, HSD, and furnace oil offtake stood at 1.22mn tonnes, 0.92mn tonnes, and 0.14mn tonnes, respectively, reflecting decreases of 8%, 12%, and 46%.

On a company basis, Pakistan State Oil (PSO) saw its offtake decrease by 27% y/y in August 2024, registering 0.53mn tonnes. Sales for Attock Petroleum Limited (APL) and Shell Petroleum Limited (SHEL) declined by 24% and 6% y/y, respectively.

#pakistan #petroleum #bno

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