Shell Agrees to Sell Majority Stake in Shell Pakistan Limited to Wafi Energy LLC

Karachi, In a significant development, Shell Petroleum Company Limited, an affiliate of Shell plc, has entered into an agreement to offload its 77.42% majority stake in Shell Pakistan Limited (SPL) to Wafi Energy LLC.

According to Shell Petroleum Company Limited, this divestiture is in line with Shell’s broader strategy to refine its mobility network, a plan which was initially shared with the public during Capital Markets Day in June 2023. The completion of the sale is anticipated by the fourth quarter of 2024, contingent upon obtaining the necessary regulatory consents.

However, even after this transition, the Shell brand will retain its presence in Pakistan. Through brand licensing agreements, customers in the country will still be able to access Shell’s top-tier fuel and lubricants selection. Furthermore, SPL has affirmed its dedication to maintaining safe and dependable operations for its clientele.

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