The overall sale of petroleum oil products stood at 1.55 million tons in the previous month of August, JS Research said citing data from Oil Companies Advisory Committee (OCAC). Breakdown suggested the sale of petrol and diesel decreased by 8% each to 0.64 million tons and 0.47 mil- lion tons, respectively, in September compared to 0.70 million tons and 0.51 million tons in August, respectively. “Strong furnace oil (FO) demand from the power sector limited the overall monthly decline in POL (petroleum, oil and lubricant) sales; September 2020 saw the highest monthly sales in FO since Jul-2018,” JS Research analyst Ali H Zaidi said in a brief report on POL sales. On a year-on-year basis, increases were seen across three major contributors; petrol sales up by 6%, diesel by 7% and furnace oil by 28%. “Strong furnace oil sales are likely to prevail in the com- ing months as FO-based gen- eration continues due to gas supply issues,” Zaidi said.

Source: The Express Tribune October 04, 2020 06:22 UTC