Wafi Energy Pakistan
 | |
| Formerly | Burmah Shell Oil Distribution Company of Pakistan (1947–1970) Pakistan Burmah Shell (1970–1993) Shell Pakistan Limited (1993–2024) |
|---|---|
| Type | Public |
| PSX: WAFI KSE 100 component | |
| Industry | Oil and gas |
| Founded | 1947 |
| Headquarters | Karachi, Pakistan |
Area served | Pakistan |
Key people | Waqar Siddiqui (CEO) |
| Products | Gasoline, Aviation fuels, Compressed natural gas and lubricants |
| Revenue |  Rs. 435.464 billion (US$1.6 billion) (2024) |
| Rs. 7.279 billion (US$26 million) (2024) | |
| Rs. 3.297 billion (US$12 million) (2024) | |
| Total assets |  Rs. 113.873 billion (US$410 million) (2024) |
| Total equity | Rs. 23.057 billion (US$82 million) (2024) |
| Owner | Wafi Energy Holding (87.78%) |
| Parent | Wafi Energy Holding |
| Website | shell |
| Footnotes Financials as of 31 December 2024[update][1] | |
Wafi Energy Pakistan Limited, doing business as Shell, is a Pakistani oil marketing company based in Karachi.[2][3] It is a subsidiary of Wafi Energy Holding, a Saudi Arabian oil and gas company.[4] Previously, it was a part of Shell plc.
History
[edit]Wafi's origins in Pakistan date to 1947, when, following the country's independence, the Burmah Shell Oil Storage and Distribution Company of India was reorganised as Burmah Shell Oil Distribution Company of Pakistan. The predecessor company traced its commercial presence in the Indian subcontinent further back to 1903, when The Shell Transport and Trading Company and the Royal Dutch Petroleum Company entered a partnership to supply petroleum across Asia, and to 1928, when Royal Dutch Shell merged its marketing interests in India with those of the Burmah Oil Company.[5]
During the 1950s, Burmah Shell promoted kerosene oil in Pakistan by featuring popular singers such as Mohammed Rafi in its advertisements.[6]
In 1965, Shell sold half of its stake in Burmah Shell, which was operating in East Pakistan.[7] Later, a new company was formed for East Pakistan named Burmah Eastern Limited, which was listed on the stock exchange and the majority of its shareholding was held by Pakistanis.[7]
In 1970, Burmah Shell was listed on the Karachi Stock Exchange and renamed as Pakistan Burmah Shell (PBS) Limited, after 51 percent of the shareholding was transferred to Pakistani investors, including National Investment Trust, with the Shell and Burmah groups retaining the remainder.[8][7]
In February 1993, the Burmah Group divested from the company and Shell Petroleum increased its stake to 51 percent, prompting a rename to Shell Pakistan Limited. Over the following decade, Shell Petroleum progressively raised its holding, reaching 77.42 percent by the early 2000s.[8]
In 2022, Shell discontinued its aviation fuel business in Pakistan, having previously been the country's second-largest jet fuel supplier.[9]
In 2024, Asyad Holding, a Saudi based group through UAE-based Wafi Energy Holding Limited acquired 77.42 percent shareholdings and control of Shell Pakistan Limited. [10]
Operations
[edit]Wafi Energy Pakistan markets petroleum products, lubricants, and compressed natural gas through a network of more than 680 Shell-branded retail stations across Pakistan. Its retail sites offer fuels including Shell Super, Shell Diesel, and the premium gasoline grade Shell V-Power, alongside convenience stores operating under the Shell Select banner. The lubricants business markets Shell brands including Helix, Rimula, and Advance. Wafi also partially owns the Pak-Arab Pipeline Company (PAPCO), which operates the White Oil Pipeline, a 786-kilometre cross-country pipeline transporting diesel and motor gasoline from Karachi ports to up-country depots. Wafi holds a 26 percent shareholding in PAPCO, with PARCO holding 62 percent and Pakistan State Oil the remaining 12 percent.[11]
References
[edit]- ↑ "Wafi Energy Pakistan Limited Annual Report 2024". Retrieved 27 April 2025.
- ↑ Malik, Ahmed (1 November 2024). "Share capital of Shell Pakistan: Proposed name 'Wafi Energy Pakistan Ltd' approved". Brecorder.
- ↑ "Wafi Energy completes Shell Pakistan acquisition". Dawn. 1 November 2024.
- ↑ "Saudi Arabia's Wafi Energy Holding buys majority stakes in Shell Pakistan". Gulf News. 4 November 2024.
- ↑ "Shell Pakistan Limited". Business Recorder. 11 September 2012.
- ↑ Sheikh, Ali Tauqeer (29 June 2023). "The end of an era". Dawn.
- 1 2 3 Bamberg, James (2000). British Petroleum and Global Oil 1950-1975. Cambridge University Press. p. 258. ISBN 978-0-521-78515-0.
- 1 2 Pakistan & Gulf Economist. Economist Publications. 2007.
- ↑ "Shell Pakistan to stop aviation operations". Dawn. 18 August 2022.
- ↑ "Saudi Group acquires majority stake in Shell Pakistan". Business Recorder. 7 July 2024. Retrieved 23 July 2024.
- ↑ Alam, Kazim (15 June 2023). "Foreign sponsor plans exit from Shell Pakistan". DAWN.COM.
External links
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