GO Pakistan outpaces PSO in petrol and HSD sales in H1FY25

KARACHI: Gas & Oil Pakistan Limited (GO) has increased its share in the domestic petrol and high-speed diesel (HSD) market in the first half of the current financial year, surpassing all other oil marketing companies (OMCs), including state-owned Pakistan State Oil (PSO).

Aramco, the Saudi oil giant, acquired a 40 per cent stake in GO last year and has begun launching its branded retail outlets, with the first opening in Lahore a few months ago. According to data from the oil sector, GO’s growth in sales has been significant, while the market shares of other OMCs have declined. “GO has primarily gained PSO’s market share,” a top executive in the oil sector told The News.

GO made headlines recently after being granted permission to import HSD, alongside PSO, despite objections from the refining sector. The sector argued that local HSD production was sufficient, and that PSO’s long-term contract with Kuwait Petroleum Corporation (KPC) negated the need for additional imports.

Data available with The News shows that GO’s share of petrol and HSD sales rose by 6.7 per cent, reaching nearly 10 per cent in the first half of the current fiscal year, compared to 3.3 per cent in FY24. Meanwhile, PSO’s share dropped to 41.7 per cent in the same period, down from 46 per cent, a decrease of 4.3 per cent. The market shares of Attock Petroleum and My Petroleum also declined.

In the HSD market, GO outperformed other OMCs by a significant margin, increasing its share to 11.1 per cent in the first six months of the current fiscal (FY25), up from 4.4 per cent in the previous fiscal year. PSO’s share fell to 47.1 per cent from 53 per cent, while Shell Pakistan’s share decreased to 5.9 per cent from 6.4 per cent, and Attock Petroleum’s share dropped to 8.7 per cent from 9.3 per cent.

Industry sources revealed that GO’s increased HSD sales have primarily impacted PSO, which has historically been the market leader in the sector. GO’s import of HSD has allowed it to substantially increase its share in the market.