Petrol sales all-time high in May


KARACHI: Petrol sales hit an all-time high of 731,000 tonnes in May, up by 15 per cent over the same month last year, despite restricted movement of people due to early closure of markets by 6pm and long Eidul Fitr holidays.

High-speed diesel (HSD) sales also remained brisk with 761,000 tonnes as compared to 688,000 tonnes in May 2020, up by 11pc. Furnace oil (FO) posted a 16pc growth to 168,000 tonnes from 145,000 tonnes in May 2020.

As a result of growth in three major oils, the overall country’s oil sales during April 2021 recorded a rise of 14pc to 1.692m tonnes from 1.485m tonnes in the same month last year.

Umair Naseer at Topline Securities, while quoting the figures of Oil Companies Advisory Council (OCAC), said oil sales in 11MFY21 swelled by 18pc to 17.606m tonnes.

Furnace oil showed the highest rise of 45pc to 2.650m tonnes in 11MFY21 followed by 18pc and 12pc hike in sales of HSD and petrol to 6.920m tonnes and 7.453m tonnes.

Petrol and diesel sales had been going strong on account of persistent increase in cars, two- and three-wheelers, SUVs, commercial vehicles and heavy vehicles sales.

Total car sales during 10MFY21 reached 126,679 units from 85,330 units in the same period last year. Truck sales grew by 7.7pc while bus sales rose by 5.6pc in 10MFY21.

Oil production falls

Meanwhile, Pakistan’s oil production during the week ending May 25 fell to 37-week low of 68,388 barrels per day due to annual turnaround of Tal Block Field, Shankar Talreja of Topline Securities said.

Oil production from Makhori East oil field plunged to 3,460 barrels per day from 9,027bpd during the week ending May 18.

Gas production clocked in at 3,495 mmcfd in the above period, showing a jump of 3pc week-on-week due to 43pc and 5pc increase in offtake from Kandhkot and Mari field to 131 mmcfd and 748 mmcfd, respectively.

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