Wafi Energy acquires majority stake in Shell Pakistan Limited

Shell Pakistan Limited will continue building a sustainable energy future for Pakistan, combining Wafi Energy’s commitment
An undated image showing Shell Pakistan logo. — ShutterStock
An undated image showing Shell Pakistan logo. — ShutterStock

Wafi Energy Holding Limited (Wafi Energy) now holds the majority stakes in Shell Pakistan Limited (SPL) after Shell Petroleum Company Limited completed the sale of its 77.42% interest in SPL.

Wafi Energy now acquired approximately 87.78% of the total issued share capital of SPL. The Shell brand is set to remain in Pakistan through retail and brand licensing agreements, with SPL as the exclusive brand licensee.

Asyad Holding Group CEO and incoming Chairperson of SPL Ghassan Amoudi stated: “Wafi Energy is excited to announce its entry into Pakistan by acquiring majority ownership of Shell Pakistan Limited. This marks a significant milestone in the Asyad Group's commitment to expanding its presence in Pakistan and the region.”

"As the exclusive Shell Licensee, we are delighted that the Shell brand remains in Pakistan. This continuation builds on a strong legacy, supported by a team of highly skilled professionals who ensure customers have access to Shell's premium fuel and lubricant offerings, all delivered with the highest safety and security standards," Amoudi added.

Shell Pakistan Limited Chief Executive and Managing Director Waqar Siddiqui said: “Shell Pakistan Limited will continue building a sustainable energy future for Pakistan, combining Wafi Energy’s commitment to growth and investment and Shell’s strong legacy of innovation and trust in the country.”

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SPL is the oldest multinational in Pakistan with a network of 600+ sites, countrywide storage facilities and a broader portfolio of global lubricant brands.

This new chapter provides Shell Pakistan Limited the opportunity to build upon this strong foundation, assuring the continued delivery of quality products to their valued customers.

Shell has worked to support Pakistan’s developmental priorities, from producing and distributing energy by land, air and sea, to offering petroleum products for the construction of mega projects like the Mangla Dam and Kotri Barrage, expanding the country’s growing road infrastructure.