Shell Petroleum Plans Stake Sale in Shell Pakistan to Boost Oil Sector in Pakistan
In 2023, the Board of Directors of Shell Pakistan Limited (SPL) held a meeting with its parent firm Shell Petroleum Company Limited (SPCo) where it was announced their intent to sell its shareholding in SPL.
The shares were acquired by the Saudi group through Wafi Energy Holding Limited, a United Arab Emirates (UAE) based firm.
“The Competition Commission of Pakistan has approved the acquisition under the Competition Act, 2010, thus solidifying the said transaction to boost the retail oil sector in Pakistan,” according to the CCP handout.
Shell Petroleum To Sell Its Stake In Shell Pakistan
M/s Shell Pakistan Limited, listed on the Pakistan Stock Exchange, maintains a substantial business footprint in the retail supply of motor fuels and lubricants across the country.
Whereas M/s Wafi Energy LLC is a wholly-owned affiliate of Asyad Holding Group which specializes in the management and operation of fuel stations in Saudi Arabia, the release said.
Shell Pakistan’s operations include more than 600 mobility sites, 10 fuel terminals, a lubricant oil blending plant, and a 26% shareholding in Pak-Arab Pipeline Company Limited.
Mutib Khalid is a skilled content writer and digital marketer with a knack for crafting compelling narratives and optimizing digital strategies. Excel in creating engaging content that drives results and enhances online presence. Passionate about blending creativity with data-driven approaches, Mutib Khalid helps brands connect with their audience and achieve their goals.
