PSO recorded highest oil sales during FY21

PSO FY21 8,932,134 tons oil sales are highest since FY18

Aftab Ahmed

Islamabad: Pakistan State Oil (PSO) oil company’s sales have crossed 858,161 tons during June 2021 that is the highest monthly sales in this fiscal year.

PSO is a state-run oil marketing company that holds the major share of the market in Pakistan. PSO oil company is a state-run company that captures major market share in sales of petroleum products.

Before this PSO crossed the 800,000 tons oil sales mark in the first month of this fiscal year.

PSO has sold 311,043 tons of MS during June 2021 and 343,952 tons of HSD. While PSO furnace sales are above 176,189 tons. PSO furnace sales increased by 465 percent from June 2020 and 84 percent from May 2021 levels.

It is worth mentioning to note that PSO oil company’s total sales for this year would be 8.9 million tons that would be a 23 percent increase from last year as compared to 18 percent growth for the industry. PSO company’s annual sales of oil are highest after FY18.

Pakistan’s total sales are above 1,823,956 tons in June 2021 and Shell Pakistan has beaten the industry with 33 percent growth in June 2021 as industry sales increased by 13 percent.

PSO Sale in May

Pakistan State Oil (PSO) oil company’s sales increased by 14% in May 2021 to 1.9 million tons as compared to 1.7mn tons in May 2020.

PSO oil company 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 noting that in May 2021, Gas & Oil Pakistan Ltd (Go Petroleum) became Pakistan’s third-largest OMC, with a 9.1% market share. On May 21, the company sold a total of 153,786 tons of petroleum products. Go product sales include MS/HSD 74,515/78,467 tons with a 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 included MS/HSD/FO of 49,289/54,038/26,224 with a market share of 6.7/7.1/21.5% in May 2021.