POL Products' Consumption Up By 9.7%, Production 3.2 % 19 March 2018

The consumption of petroleum products registered a growth rate of 9.7 percent during fiscal year 2016-17 as compared to previous year's increase of 5.2 percent.

ISLAMABAD, (UrduPoint / Pakistan Point News - 19th Mar, 2018 ) :The consumption of petroleum products registered a growth rate of 9.7 percent during fiscal year 2016-17 as compared to previous year's increase of 5.2 percent. During the year, main�drivers of increased consumption were transport and power sectors, which registered high growth of 12�percent and 10 percent respectively as compared to the year 2015-16, Oil and Gas Regulatory Authority (OGRA) said in its annual report for the year 2016-17.

The consumption of Motor Spirit (MS) in�transport sector witnessed an increase of around 16 percent during the period under review, which could be attributed to rising demand of transport sector particularly the growing number of motorcycles�and cars. Similarly, consumption of High Speed Diesel (HSD) grew�by 10 percent compared to previous year mainly on account of higher utilization by transport sector indicating increased economic activity in the country.

Transport and Power sectors consumed almost 90�percent of total Petroleum Oil Lubricant (POL) consumed in the country, with 57 percent and 33 percent�shares respectively. Pakistan State Oil remained the lead player in total energy products supply to the consumers with 55 percent market share, followed by Shell with 9 percent, Attock Petroleum Limited and�Hascol Private Limited with 8 percent each.

Total PARCO Marketing Limited and Total PARCO�Pakistan Limited captured 4 percent shares each. While, Byco Petroleum Pakistan Limited and�other oil marketing companies contributed 3 percent and 8 percent shares respectively. Total production by the refineries stood at 11.67 million tons as compared to previous year's 11.31 million tons, showing a growth of 3.2 percent.

Pak-Arab Refinery Company was the largest and main producer of petroleum (POL) products with 39 percent market share in the total production, followed by National Refinery Limited�with 20 percent share, Attock Refinery Limited , Pakistan Refinery Limited and Byco�Petroleum Pakistan Limited with 18 percent, 14 percent and 10 percent respectively. The demand for HSD, MS and FO were mostly met through imports as domestic production was not�enough to meet the domestic requirements.

Around 73 percent of MS, 69 percent of FO, 46 percent of�HSD and 14 percent of Jet Fuels demand was met through imports of finished POL products in the country during the last fiscal year.