KARACHI: The overall sales of Oil Marketing Companies (OMCs) have increased by 8 percent on year-on-year basis in the month of July 2020 to reach at 1.6 million tonnes.

The major increase was seen in High Octane Blending Component (HOBC) which rose by 41 percent on YoY and High Speed Diesel (HSD) which rose by 24 percent whereas FO sales volumes posted a decline of 19 percent on YoY. "The YoY growth has been witnessed mainly due to ease in lockdown along with normalisation of operations," Minhal H. Maqbool, an analyst at Darson Securities said.

In the first seven months of CY20, overall OMCs sales volume declined by 13 percent on YoY. Whereas on MoM basis, OMCs sales volume increased by 3 percent on YoY.

FO post the highest increase on monthly basis posted the growth of 109 percent due to high generation of electricity on FO. On the other hand, MS and HSD posted the decay of 1.0 percent and 10 percent respectively on month-on-month basis. Company wise, BYCO posted the highest growth of 61 percent among peers due to increase in sales of FO by 2 fold as compared to last year. SHELL sales volume declined by 4 percent on YoY while PSO, APL and HASCOL sales volume increased by 7 percent, 9 percent and 35 percent on YoY respectively.

Copyright Business Recorder, 2020