Karachi, September 02, 2022 (PPI-OT): Pakistan OMC’s: POL sales clocked in at 1.52mn tons, up 6% MoM

POL product sales clocked in at 1.52mn tons for Aug’22 changing by -22%/6% YoY/MoM, compared to 1.93mn/1.44 tons during Aug’21/Jul’22.

The country received 190% more rain than the 30-yr average through entirety of Aug’22 as per sources, taking total industry volumes to 2.96mn tons during 2MFY22, down 24%YoY.

Company wise, APL stood the most resilient as total offtakes stood at 154k tons, up 8% MoM as compared to industry’s 5% rise during the month, ending the month with total market share standing at 10.1% for the period.

We expect OMC sales to be severely impacted by the said floods as overall economic activity in the affected regions are to be hit, specifically HSD and RFO, as reduced agricultural activity and power generation from the said sources are to remain on the lower end during the next few months.

Overall, we expect mobility in the affected regions to remain stagnant on the back of lower travel/up-country travel, which may in-turn reduce future sales of MS as well (damaged terrain/lower auto sales).