Pakistan OMC sales slip 2pc year-on-year in September

Pakistan's oil marketing companies sold 1.3 million tons of petroleum products in September 2026, down 2 percent year-on-year but up 7 percent month-on-month, according to figures compiled by Topline Research. The monthly gain lifted volumes for the first quarter of FY27 to 4.1 million tons, a 6 percent year-on-year increase that the research house attributes mainly to higher furnace oil sales amid a shift in the power generation mix.

Excluding furnace oil, September sales stood at 1.25 million tons, down 8 percent year-on-year but up 8 percent month-on-month. Ex-furnace oil volumes for 1QFY27 reached 3.8 million tons, flat on a year-on-year basis. Furnace oil sales surged seven times year-on-year to 93,000 tons in September, which Topline Research linked primarily to LNG shortages that increased its use in power generation, though they declined 5 percent month-on-month on lower power demand. The research house said ex-furnace oil demand remained under pressure amid a sharp increase in fuel prices, with average motor spirit prices rising 42 percent year-on-year to Rs375 per litre and high-speed diesel prices up 48 percent to Rs401 per litre.

By product, petrol sales declined 5 percent year-on-year and 2 percent month-on-month to 652,000 tons. High-speed diesel volumes fell 11 percent year-on-year but rose 25 percent month-on-month to 525,000 tons, a move Topline Research mainly attributed to a seasonal factor.

Among listed companies, Pakistan State Oil recorded the highest sales at 639,000 tons, up 12 percent year-on-year and 12 percent month-on-month. Its market share rose 230 basis points to 47.51 percent, which the research house linked mainly to a higher high-speed diesel share, with the company selling 269,000 tons of the fuel against 199,000 tons in August. Attock Petroleum Limited sold 116,000 tons, unchanged year-on-year but down 4 percent month-on-month, with its market share falling 99 basis points to 8.62 percent. Wafi Energy Pakistan posted sales of 110,000 tons, down 6 percent year-on-year but up 2 percent month-on-month, while Hascol Petroleum Limited recorded 37,000 tons, down 14 percent year-on-year and up 5 percent month-on-month. Pakistan State Oil was the only listed company to increase sales on both a year-on-year and month-on-month basis, according to the research.

The combined market share of the four listed oil marketing companies rose 90 basis points to 67 percent during the month. Topline Research expects OMC sales to grow by 8-10 percent during FY27.