Wafi Energy Holding Limited (Wafi Energy) has officially become the majority shareholder of Shell Pakistan Limited (SPL) following the completion of Shell plc’s subsidiary, The Shell Petroleum Company Limited, in selling its 77.42% stake in the company. As a result of this transaction, Wafi Energy, a well-established Saudi company affiliated with the Asyad Group, now holds approximately 87.78% of SPL’s total issued share capital. Despite the change in ownership, the Shell brand will continue to operate in Pakistan through retail and brand licensing agreements, with SPL designated as the exclusive brand licensee. “We are excited to announce our entry into Pakistan with the acquisition of majority ownership of Shell Pakistan Limited. This represents a significant milestone in the Asyad Group’s commitment to expanding its footprint in Pakistan and the broader region,” stated Ghassan Amoudi, CEO of Asyad Holding Group and the incoming Chairperson of SPL. He added, “As the exclusive Shell Licensee, we are pleased to ensure that the Shell brand remains in Pakistan. This continuation builds upon a strong legacy, supported by a team of highly skilled professionals dedicated to delivering Shell’s premium fuel and lubricant products while upholding the highest safety and security standards.” Waqar Siddiqui, the Chief Executive and Managing Director of Shell Pakistan Limited, emphasized the company’s commitment to fostering a sustainable energy future for Pakistan.
He noted, “Shell Pakistan Limited will continue to build on this mission, leveraging Wafi Energy’s commitment to growth and investment alongside Shell’s robust legacy of innovation and trust in the country.”
