Insights
Regular reports on sector performance, pricing dynamics, regulatory developments, and emerging opportunities. Built for executives who prefer decisions over noise.
Reports
PRESS RELEASE
MaVen June 2026 - The Round Trip
Pakistan's Rs266 billion fuel windfall has vanished, Mountain Ventures finds
Dubai, 1 July 2026 — The inventory windfall that handed Pakistan's oil sector a Rs266 billion paper gain at the height of the Hormuz crisis has been given back in full, closing June at a net loss of around Rs16 billion, according to the latest edition of MaVen, Mountain Ventures' monthly Pakistan downstream intelligence publication.
Marked to market across eighteen price notifications between March and June, the sector's inventory position peaked on 3 April, then unwound entirely as the post-peace correction pulled prices down. For the marketing chain, the report concludes, the round trip was the whole story, and it ended back at square one. Refineries fared better, cushioned by record crack spreads.
The same correction reshaped the consumer picture. Petrol fell to Rs299.50 a litre, ranking Pakistan the 36th cheapest fuel market of 170 worldwide, yet still the 33rd least affordable when measured against income. June sales recovered six per cent on the month but remained below the prior year.
About Mountain Ventures
Mountain Ventures is an investment and advisory practice with offices in Lahore, Dubai and London, specialising in energy, technology and advisory across high-growth markets.
PRESS RELEASE
MaVen - May 2026 - The Slow Puncture
1 June 2026: Led by Partners, Zeeshan Tayyeb and Zain Jaffery,
Mountain Ventures has published the May 2026 edition of MaVen, its monthly intelligence report on Pakistan's downstream petroleum sector.
The edition confirms a record Hormuz windfall: listed downstream profit before tax of Rs 149.5 billion in the first quarter, exceeding the previous eight quarters combined. Yet May volumes fell through the floor, down twenty-two per cent on the year, as the year-to-date surplus closed to nil.
Two special features anchor the issue. The Map beneath The Map dissects Pakistan's retail network of roughly 12,000 outlets across forty companies, finding a market concentrated nationally but fragmented provincially. The Slow Puncture argues that gasoline demand growth halves over the coming decade, with the pressure falling first, and hardest, on the marketing companies.
The full edition is available now.