Karachi, December 02, 2022 (PPI-OT): Pakistan OMC sales for Nov’22 – more of the same
POL product sales clocked in at 1.55mn tons for Nov’22, down by 12%/7% on YoY/MoM basis, compared to 1.75mn/1.66mn tons during Nov’21/Oct’22.
Incoming winter season has had its say on falling RFO volumes (down 22%/33% on YoY/MoM basis) as well, evident by falling power generation from the said fuel source, which was down by 87.3%YoY.
PSO’s market share for Nov’22 stood at 52.4% vs. 47% in Nov’21 after the company’s volumes decreased by only 2%YoY against an industry-wide decline of 12%YoY.
Overall, reduced auto sales in the coming quarters alongside a depressed GDP outlook during the current period compels us to assume negative volumetric growth for the industry, by approximately 7-8% for FY23.
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