*AKD Daily - Jun 03, 2025* *Pakistan OMCs - OMC sales see sequential rise in third consecutive month* OMC Volumetric sales for the month of May’25 increased by 10%YoY/5%MoM to clock in at 1.5mn tons. The uptick was primarily led by increases in retail fuel volumes i.e. MS, HSD and HOBC, which grew by 15%/5%/5%YoY, respectively. Volumetric sales for PSO during May’25 stood at 642k tons, down 3%YoY, however, up 3% on a sequential basis. Among the private players, HASCOL and WAFI witnessed significant surge in volumes, with sales rising by 31%/23%YoY. In summary, we have a ‘BUY’ call for PSO and APL with Dec’25 TP of PkR729/850 per share, with DY of 5.5%/5.8% for FY26E, respectively. https://research.akdsl.com/AKD_Daily_Jun_03_2025.pdf *Regards* *AKD Research*