PSO market share increased to 44.8% in May 2021
Pakistan State Oil (PSO) sales increased by 14% in May 2021 to 1.9 million tons as compared to 1.7mn tons in May 2020.
Pakistan State Oil maintained its leadership position with total sales of 758,269 tons in May 2021 with a market share of 44.8%. PSO product-wise MS/HSD/FO/JP-1 arrived at 311,276/373,100/53,047/12,889 tons with market share of 42.6/49.0/31.5/91.7% in May 2021.
It is worth mentioning to note that Gas & Oil Pakistan Ltd (Go Petroleum) became the third largest OMC in Pakistan with market share of 9.1% in May 2021. Company has sold total 153,786 tons of petroleum products in May 21. Go product wise sales include MS/HSD 74,515/78,467 tons with market share of 10.2% in MS and 10.3% in HSD.
Attock Petroleum Limited’s market share remained at 8.5% in May 2021 with total sales of 143,216 tons, APL product-wise sales include MS/HSD/FO of 49,289/54,038/26,224 with a market share of 6.7/7.1/21.5% in May 2021.
Shell Pakistan Limited sold 134,577 tons of petroleum products in May 2021 with a market share of 8.0%. SHELL product-wise sales include MS/HSD 74,043/56,650 tons with a market share of 10.1/7.4% in May 2021.
PSO has been able to increase its sale in May compared to previous month of April. However, it continues to bear the woes of the circular debt that has led to the financial crunch for the state run oil marketing company.
It has a larges consumer network. However, many entities have failed to pay their dues. Its receivables against different entities have swelled to Rs 359 billion, an all-time high in the history of Pakistan State Oil.
The power sector is a major defaulter of the PSO that is to pay Rs 189 billion. Gencos, Hubco, and Kapco are major defaulter companies. Hubco is to pay Rs 51 billion, Kapco Rs 12 billion, and Gencos Rs 134.9 billion.
LNG has also added Rs 130 billion in circular debt. PSO is the largest importer of LNG in Pakistan and it supplies LNG to SNGPL. However, SNGPL is also facing problems as it has been unable to recover over Rs 100 billion from domestic consumers. PIA is to pay Rs 21 billion on account of fuel supply to PSO.
