Pakistan Oil Marketing: Oil sales likely to grow by 18% YoY and 2% MoM in Nov-2020
- Pak Oil sales are likely to increase by 18% YoY in Nov-2020 driven by High Speed Diesel (HSD) demand which is expected to improve by 29% YoY.
- The pickup in HSD volumes is largely attributable to (1) continued restrictions on the border due to COVID-19 which is restricting inflow of smuggled product and (2) overall pick-up in economic activity following improvements in COVID-19 situation.
- Motor Spirit (MS) and Furnace Oil (FO) sales are also likely to increase by 20% YoY and 18% YoY, respectively.
- Oil sales are expected to edge up by 2% MoM in Nov-2020, again due to HSD increase of 20% MoM.
- In 5MFY21, Oil sales are likely to grow by 10% YoY, where FO and HSD volumes have increased by 30% YoY and 11% YoY, respectively.
- In Nov-2020, Shell Pakistan’s (SHEL) sales are likely to increase the most by 36% YoY (due to 56% YoY increase in HSD sales), followed by 10% YoY rise in PSO volumes (due to 35% YoY higher HSD sales).
- Hascol Petroleum’s (HASCOL) sales are likely to grow the most on MoM basis by 9% during Nov-2020.
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).
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