Attock Petroleum Market Share: Falls to 8.31% Despite Sales Growth

KARACHI: Attock Petroleum Limited (APL) recorded a decline in its market share in October 2026, as stronger growth across Pakistan’s oil marketing sector outpaced the company’s sales performance.

APL’s market share fell 31 basis points month-on-month to 8.31%, despite a 6% increase in sales volumes to 123,000 tons, according to Topline Securities. The decline indicates that competing oil marketing companies (OMCs) recorded stronger gains in the overall market during the month.

Pakistan’s OMC industry recorded total sales of 1.48 million tons in October, representing a 10% increase from September, although volumes remained 1% lower than the corresponding month last year.

Cumulative industry sales during the first four months of FY27 reached 5.6 million tons, up 4% year-on-year, largely supported by a significant increase in furnace oil (FO) consumption.

Petroleum Sales Increase Across Key Segments

Excluding furnace oil, industry sales reached 1.38 million tons in October, increasing 10% month-on-month but declining 6% year-on-year. Cumulative ex-FO sales stood at 5.2 million tons during the first four months of FY27, down 2% from the corresponding period last year.

Hascol Market Share: Sales Fall 10% in First Four Months of FY27

High-speed diesel (HSD) sales increased 26% month-on-month to 662,000 tons, supported by seasonal demand. However, volumes remained 7% below October 2025 levels.

Motor spirit (MS) sales declined 2% both year-on-year and month-on-month to 642,000 tons.

Meanwhile, average motor spirit prices increased 46% year-on-year to Rs387 per litre, while high-speed diesel prices rose 45% to Rs396 per litre.

Furnace Oil Demand Surges Amid LNG Shortages

Furnace oil sales recorded the strongest growth among major petroleum products, rising 243% year-on-year to 95,000 tons in October.

The increase reflected LNG shortages, which encouraged greater furnace oil consumption in the power generation sector.

Higher furnace oil demand played a significant role in supporting overall industry sales during the month, although the broader petroleum market continued to face weaker year-on-year demand in certain product categories.

PSO and Wafi Energy Record Stronger Sales

Among listed oil marketing companies, Pakistan State Oil (PSO) recorded sales of 693,000 tons in October, representing an 8% increase both year-on-year and month-on-month.

However, PSO’s market share declined 61 basis points to 46.90%. Its market share in motor spirit and high-speed diesel also fell by 227 basis points and 143 basis points, respectively.

Wafi Energy reported sales of 136,000 tons, marking a 52-month high. Its volumes increased 12% year-on-year and 24% month-on-month, reflecting stronger sales momentum.

Hascol Petroleum recorded sales of 39,000 tons, down 6% year-on-year but up 5% from September.

PSO and Wafi Energy were the only listed OMCs to record sales growth on both a yearly and monthly basis during October.

OMC Industry Outlook for FY27

Topline Research expects Pakistan’s overall oil marketing industry sales to grow between 8% and 10% during FY27.

The latest industry figures indicate improving monthly demand, particularly in high-speed diesel and furnace oil. However, declining market shares at some major operators highlight intensifying competition across the sector.

For Attock Petroleum, maintaining its market position will depend on its ability to translate rising sales volumes into stronger growth relative to competing OMCs.