Furnace oil sales record 66% decline annually

Islamabad: The sales of furnace oil in Pakistan have recorded a decline of 66% on annual basis in the first four months of the current financial year.

According to the data of Oil Companies Advisory Council (OCAC), in the first four months of the current financial year, the sale of furnace oil was recorded 0.40 million tons in the country, which is 66% less than the same period of the previous financial year. In the same period of the previous financial year, the country recorded sales of 1.19 million tons of furnace oil.

The data showed that 0.05 million tons of furnace oil was sold in the country in October, which is 74% less than October 2023. In October last year, the country recorded sales of 0.20 million tons of furnace oil.

According to statistics, in the first four months of the current fiscal year, Pakistan State Oil (PSO) recorded sales of 0.09 million tons of furnace oil, which is 88 percent less than the same period of the previous fiscal year.

It is also reported that PSO had recorded sales of 0.76 million tons of furnace oil in the same period of last financial year. Similarly, in the first four months of the current financial year, the sales of Attock petroleum was recorded at 0.11 million tons and Shell petroleum at 0.13 million tons of furnace oil.