Gas & Oil Pakistan Limited (GO) has significantly increased its market share in the domestic petrol and high-speed diesel (HSD) segments during the first half of the current financial year, surpassing all other oil marketing companies (OMCs).
The data reveals that GO’s combined share in gasoline and HSD sales rose by 6.7 percentage points, to nearly 10% in H1FY25, compared to 3.3% in the same period last year.
Meanwhile, PSO’s share fell to 41.7%, from 46%, recording a 4.3% decline. Likewise, shares of Attock Petroleum and My Petroleum also registered declines in the market.
In the HSD market alone, GO’s performance was even more pronounced, with its share rising to 11.1% in the first six months of fiscal 2025, compared to 4.4% during the same period last year.
PSO’s stake in HSD fell to 47.1% from 53%, Shell Pakistan’s stake fell to 5.9% from 6.4%, and Attock Petroleum’s stake fell to 8.7% from 9.3%.
GO’s growth has been supported by its partnership with Saudi oil giant Aramco, which acquired a 40% stake in the company last year. Aramco has begun establishing its branded retail outlets across Pakistan.
Data from the oil sector indicate that the rise in GO sales came primarily at the expense of PSO’s market share.
Recently, GO was granted permission to import HSD alongside PSO, despite objections from local refiners who said local HSD production was sufficient to meet demand.
The increase in GO sales from HSD has significantly impacted PSO, which has long been the market leader in the segment, industry sources said. Imports have allowed GO to strengthen its supply capabilities and expand its presence in the local fuel market.