State-owned Pakistan State Oil (PSO) was Pakistan’s largest base oils importer in December for the first time in 2022.The company had been Pakistan’s third-largest importer in November and fourth-largest in October. It had imported no base oils directly before October or during the previous year.PSO previously typically issued tenders for the procurement of base oils from overseas markets.The direct procurement of overseas base oils supplies in recent months coincided with Pakistan’s dwindling foreign exchange reserves and a growing balance of payments crisis.PSO accounted for almost 35pc of Pakistan’s total base oils imports in December, provisional customs data showed..The country’s base oils imports of around 20,500t in December were the lowest in three months..Pakistan’s Dec base oils imports fall.PSO’s share of imports was up from little more than 10pc the previous month and less than 9pc in October.The wave of direct procurement in the final quarter of the year boosted its share of Pakistan’s imports to around 4pc of the country’s total shipments of almost 290,000t in 2022.Shell Pakistan was the country’s largest base oils importer in 2022 with a share of more than 40pc of the total. The share was up from less than 30pc of total imports in each of the previous two years..Shell Pakistan was the country’s largest base oils importer seven times in 2022, including in October and November.Shell Pakistan operates a lube blending plant in Karachi and more than 740 retail sites throughout the country.Chevron Pakistan Lubricants was the country’s second-largest base oils importer in 2022 for at least the third time in a row.Its share of imports fell to less than 25pc of the total, from more than 26pc the previous year.Chevron Brands International signed a licensing agreement with Pakistan oil marketing company Be Energy (BE) late last year, whereby BE sells, markets and distributes Caltex-branded fuel in Pakistan.Reliance Petrochem Industries and Total PARCO Pakistan were the country’s third and fourth-largest importers in 2022, with a share of less than 8pc of total imports each. The share was down from more than 11pc of total imports in 2021..Pakistan’s December lube demand falls
State-owned Pakistan State Oil (PSO) was Pakistan’s largest base oils importer in December for the first time in 2022.The company had been Pakistan’s third-largest importer in November and fourth-largest in October. It had imported no base oils directly before October or during the previous year.PSO previously typically issued tenders for the procurement of base oils from overseas markets.The direct procurement of overseas base oils supplies in recent months coincided with Pakistan’s dwindling foreign exchange reserves and a growing balance of payments crisis.PSO accounted for almost 35pc of Pakistan’s total base oils imports in December, provisional customs data showed..The country’s base oils imports of around 20,500t in December were the lowest in three months..Pakistan’s Dec base oils imports fall.PSO’s share of imports was up from little more than 10pc the previous month and less than 9pc in October.The wave of direct procurement in the final quarter of the year boosted its share of Pakistan’s imports to around 4pc of the country’s total shipments of almost 290,000t in 2022.Shell Pakistan was the country’s largest base oils importer in 2022 with a share of more than 40pc of the total. The share was up from less than 30pc of total imports in each of the previous two years..Shell Pakistan was the country’s largest base oils importer seven times in 2022, including in October and November.Shell Pakistan operates a lube blending plant in Karachi and more than 740 retail sites throughout the country.Chevron Pakistan Lubricants was the country’s second-largest base oils importer in 2022 for at least the third time in a row.Its share of imports fell to less than 25pc of the total, from more than 26pc the previous year.Chevron Brands International signed a licensing agreement with Pakistan oil marketing company Be Energy (BE) late last year, whereby BE sells, markets and distributes Caltex-branded fuel in Pakistan.Reliance Petrochem Industries and Total PARCO Pakistan were the country’s third and fourth-largest importers in 2022, with a share of less than 8pc of total imports each. The share was down from more than 11pc of total imports in 2021..Pakistan’s December lube demand falls
