Imarat

Sales of oil products drop to six-and-a-half-year low in Pakistan

KARACHI: Due to a decrease in the industrial output, mainly the auto industry, and a shift to re-gasified liquefied natural gas (RLNG) from furnace oil in power generation, the sales of petroleum products dropped to a six-and-a-half-year low at 4.42 million tons in the quarter ending September 30, 2019.

Oil sales have recorded a fall of 13%, as compared to the same quarter of the last year. This is the eighth successive quarter in which oil sales have continued to fall in the country, due to the drop in vehicle sales also causing a shrink in demand for petroleum products for the first time in a quarter in the past 10 years

Furthermore, availability of the relatively cheaper fuels like imported gas (RLNG) and coal have replaced the oil in the power sector over the past two years, which has caused the sales of oil products to drop to a six-and-a-half-year low in Pakistan.

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