Shell Pakistan Turns Profit, Announces Ownership Change

In October 2023, Shell Petroleum Company Limited, a subsidiary of Shell plc (Shell), signed an agreement to sell its 77.42% majority interest in Shell Pakistan Limited (SPL) to Wafi Energy LLC.

Press Release
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Shell Pakistan Turns Profit, Announces Ownership Change

Shell Pakistan Limited (SPL) disclosed its impressive 2023 financial results, reporting a noteworthy profit after tax of PKR 5.8 billion, a significant turnaround from the PKR 72 million loss in 2022. The positive shift aligns with Shell’s strategic move, with the signing of an agreement in October 2023 to transfer its 77.42% majority interest in SPL to Wafi Energy LLC, pending regulatory approvals.

SPL appreciates the government’s recent measures to boost industry margins and combat black market activities, fostering currency stabilization. The Mobility business continues its commitment to customer satisfaction by introducing 27 new sites, enhancing existing networks, and prioritizing safe refueling and convenient payment solutions. Despite industry challenges, Shell Lubricants maintains a resilient market share.

Highlighting its social responsibility, Shell Tameer empowers young entrepreneurs through learning sessions across Pakistan, engaging universities and incubation centers. Over 700 individuals, including 560 startup enthusiasts, benefited from the program, and the 10th Tameer Awards celebrated outstanding achievements with six winners and six runners-up.

SPL remains steadfast in its dedication to operational excellence, safety, financial strength, and societal responsibility.

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