KARACHI: Continued shortage of Compressed Natural Gas (CNG) lifted the sales of petroleum, oil and lubricants (POL) products in the first half of current fiscal 2013-14 (FY14) as total sales of the sector increased by 11 percent to 10.2 million tonnes as against 9.2 million tonnes in the same period of last fiscal.
According to the recently released statistics by Oil Companies Advisory Committee (OCAC), total industry sales in the month of December 2013 declined by 3.0 percent on monthly basis to 1.6 million tonnes as against 1.7 million tonnes in the month of November 2013. However, it increased by 6.0 percent on yearly basis as compared to 1.5 million tonnes in December 2012.
Among major products, sales of Motor Spirit (MS) during first half of FY14 increased by 20 percent on yearly basis to 1.9 million tonnes as against 1.6 million tonnes in FY13 on continued gas curtailment to the transport sector.
Similarly, furnace oil (FO) volumes surged by 11 percent on yearly basis to 4.7 million tonnes in first half of FY14 versus 4.3 million tonnes in the corresponding period of FY13 as improved liquidity from the power sector triggered demand.
High-speed diesel (HSD) volumes increased by 6.0 percent to 3.5 million tonnes in the first half of FY14 as compared with 3.3 million tonnes in the same period of FY13.
Alone in December 2013, however, HSD sales remained subdued on a sequential basis, recording a decline of 19 percent on monthly basis to 577,000 tonnes as compared to 708,000 tonnes in November 2013 due to lower demand of HSD in agri sector (no sowing and less irrigation needs in December).
In December 2013, MS sales jumped by 7.0 percent on monthly basis and 25 percent on yearly basis to 335,000 tonnes as compared to 314,000 tonnes in November 2013 and 269,000 tonnes in the month of December 2012.
FO sales increased by 8.0 percent on monthly basis and 2.0 percent on yearly basis to 706,000 tonnes in December 2013 as compared to 652,000 tonnes in November 2013 and 694,000 tonnes in December 2012.
According to the oil marketing companies break-up, Pakistan State Oil (PSO) remained the leader in sales as during first half of FY14, all three major products reflected a positive yearly growth in volumes as MS was highest with 15 percent growth to touch 934,000 tonnes against 812,000 tonnes in the first six months of FY13. HSD sales of the company depicted a meagre negative growth of 1.0 percent to 1.8 million tonnes in period under review as against 1.9 million tonnes in the first half of FY13.
FO volumes of the company increased by 11 percent to 3.5 million tonnes in the first half of FY14 as against 3.2 million tonnes in the same period of FY13.
APL’s volumes portrayed a very cheering position on yearly basis. APL’s volume of HSD, MS and FO increased by 24 percent, 46 percent and 14 percent in first half FY14 to 389,000 tonnes, 130,000 tonnes and 432,000 tonnes as against 314,000 tonnes, 89,000 tonnes and 379,000 tonnes, respectively in the corresponding period of FY13.
HSD sales by Shell increased by 6.0 percent to 503,000 tonnes in first half of FY14 as against 474,000 tonnes in the same period of FY13. Similarly, MS and FO sales also jumped by 14 percent and 101 percent, respectively to 358,000 tonnes and 48,000 tonnes in the first half of FY14 while it was 314,000 tonnes and 24,000 tonnes in the corresponding period of FY13.
ISLAMABAD: Federal Minister for Commerce Khurram Dastgir Khan said on Friday the on-going ...