Pakistan Oil Marketing: Oil sales likely to grow by 6% YoY and 11% MoM in Oct-2020
- Pak Oil sales are likely to increase by 6% YoY in Oct-2020 driven by Furnace Oil (FO) demand which improved by 46% YoY.
- The pickup in FO volumes is largely attributable to (1) low FO prices resulting in higher FO-based power generation and (2) overall pick-up in economic activity following improvements in COVID-19 situation.
- Oil sales are expected to pick up by 11% MoM in Oct-2020, as during Sep-2020 some sales were lost due to heavy rains.
- High Speed Diesel (HSD) is expected to rebound by 43% MoM, while Motor Spirit (MS) sales are likely to grow by 7% MoM.
- In 4MFY21, Oil sales are likely to grow by 7% YoY, where FO and HSD volumes have increased by 32% YoY and 6% YoY, respectively.
- In Oct-2020, Attock Petroleum’s (APL) sales are likely to increase the most by 10% YoY (due to 100% YoY increase in FO sales), followed by 5% YoY rise in PSO volumes (due to 26% YoY higher FO sales).
- Hascol Petroleum’s (HASCOL) sales are likely to grow the most on MoM basis by 32%.
On the market share front, PSO’s market share is expected to decline to 39% from last month’s 40% in MS, while HASCOL’s is expected to increase to 6.8% from 6.1%.
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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