Lockdown hits oil sales.

KARACHI -- Oil sales in April fell by 36 per cent year-on-year ( YoY) to 1.1 million tonnes as the coronavirus lockdown hampered off take. In 10MFY20, total oil sales plunged by 13pc YoY to 13.3m tonnes.

Bulk of the decline stemmed from a 36pc YoY drop in petrol sales to 0.44m tonnes and a 75pc YoY fall in furnace oil to 0.07m tonnes.

According to an analyst at BMA Research, high speed diesel (HSD) sales stood at 0.55m tonnes, a jump of 42pc month-on-month (MoM). The support likely came in from lower retail fuel prices and relaxation in locked down for...