Pakistan Oil Marketing: Oil sales up 21% YoY; a 44-month high increase
- Pak Oil sales are likely to increase by 21% YoY in Aug-2020 as Furnace Oil (FO) demand has picked up (+71% 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.
- However, oil sales are expected to decline by 6% MoM, amidst EID holidays at the start of the month and heavy rainfall towards the latter end.
- The sales of High Speed Diesel (HSD) and Motor Spirit (MS) are likely to decline by 24% MoM and 2% MoM, respectively.
- In 2MFY21, oil sales are likely to grow by 11% YoY where HSD and FO volumes have increased by 19% YoY and 14% YoY, respectively.
- In Aug-2020, PSO sales are likely to increase the most by 26% YoY (due to 105% YoY increase in FO sales), followed by 20% YoY rise in HASCOL volumes (due to 35% YoY higher MS sales).
- On the market share front, PSO’s market share has increased to 48.5% in Aug-2020 (vs. 46.4% in Aug-2019), while HASCOL’s share remained largely unchanged at 4.8%.
The other OMCs market shares declined during the month.
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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