Pakistan Oil Marketing: Jan 2019 sales down 16% YoY
- Pakistan Oil Marketing Companies (OMCs) started 2019 with declining sales numbers where Ex-FO sales continued to portray downward trend (down 16% YoY in Jan 2019) in its monthly numbers for last few months due to 1) slowdown in economic activities, 2) inflationary pressure and 3) smuggling of diesel from Iran. Product wise, HSD was down 25% YoY while petrol sales was marginally up by 2% YoY after posting decline for 3 consecutive months.
- Furnace Oil (FO) was at its highest monthly sales of FY19 despite posting decline of 15% YoY. Compared to last month, FO was up 60% MoM. Cumulatively during 7MFY19, FO was down 62% amidst its lower usage in power generation after availability of relatively cheaper fuel sources like coal and RLNG.
- Among Companies, Hascol attained market share of 14% in overall volumes after witnessing depressed performance where its market share averaged 8-11% for last few months. To note, in Dec 2018 Hascol market share fell to 8% amidst higher discounts offerings by its competitors.
- For 7MFY19, oil sales came down by 30% YoY amidst aforementioned reasons. Product wise, HSD was down 22% YoY while, MS Oil sales witnessed fall of 2% after posting positive growth for a decade.
Topline Securities is one of the fastest-growing brokerage houses in Pakistan. It has strong Equity Brokerage, Economic/ Equity Research, Commodity Trading and Corporate Finance & Advisory functions.
Topline Securities has been endowed with numerous awards by renowned international financial organizations. The highlights of which consists of the award for ‘Best Local Brokerage House of Pakistan’ by Asiamoney Brokers Poll (the largest Asia-focused equity services provider poll) in 2016 and ‘Best Equity Brokerage House’ by CFA Society Pakistan in 2015.
Previously, Topline Securities held the title for ‘Best Brokerage House’ for 4 consecutive years (2011-2014) by Asiamoney Brokers Poll. Other awards include the ‘Best Salesperson’ award by Asiamoney for 6 consecutive years (2011-2016), the ‘Arabia Fast Growth 500’ award and ‘Pakistan Fast Growth 100’ award in 2012 and 2013 by AllWorld Network.
JCR-VIS, a credit rating agency providing independent rating services in Pakistan has assigned initial rating of “A-2” for short term and “A” for long term to Topline Securities. Topline Securities is registered as Underwriter, Book Runner and Research Entity with Securities & Exchange Commission of Pakistan (SECP).
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.