LAHORE - The country’s oil consumption maintained its steady trend in Oct, rising by 4 per cent YoY to 1.7 million tons. Oil consumption growth in Oct 2014 was led by 28 per cent YoY higher sales of Petrol (MS) and 33 per cent YoY higher sales of Jet Fuel (JP), while 10 per cent YoY decline in Furnace Oil (FO) sales was a key drag. In Oct-2014, Attock Petroleum Limited (APL) sales ticked-up by 9 per cent YoY while Pakistan State Oil (PSO) sales edged lower by 7 per cent YoY.  On a sequential basis, seasonality dragged down oil demand by 7 per cent MoM. FO sales clocked in 19 per cent MoM lower due to decline in electricity demand as mercury levels drop.
Meanwhile In 4MFY15, oil sales clocked in 3 per cent YoY higher at 7.3mn tons, where APL’s market share expanded to 10.1 per cent (from 9.1 per cent in 4MFY14) while PSO’s market share dipped to 58.8 per cent (from 63.7 per cent in 4MFY14).