IGI Securities Limited - Day Break.

Karachi -- December 05, 2018 (PPI-OT)

Oil and Gas - Marketing Companies - Nov-18: Volumes declined by 30%YoY on account of lower HSD/FO sales

Industry volumes for oil marketing companies for the month of Nov-18 witnessed a decline of 30%YoY to 1.33mn ton bringing industry volumes for 5MFY19 to 7.74mn ton down by 32%YoY. Furnace Oil (FO)/ High Speed Diesel (HSD)/ Motor Spirit (MS) sales registered drop of 67%/30%/4%YoY during Nov-18.

MS sales inched down by 4%YoY in Nov-18, while on sequential basis, volumes posted 13%MoM drop to 0.54mn ton on the back of increase in domestic price leading to shift towards CNG. HSD sales plummeted by 30%YoY to 0.60mn ton in Nov-18, while on monthly basis volumes are down by 18%MoM. The drop in sales is likely attributable to higher domestic prices, slowdown in...