Wafi Energy Pakistan Reports 2024 Profit Amid Name Change and Strategic Growth

Karachi: Wafi Energy Pakistan Limited, formerly known as Shell Pakistan Limited, has announced its financial results for the year ending December 31, 2024. The company reported a profit after tax of PKR 3.3 billion, a decrease from the PKR 5.8 billion profit recorded in 2023. The previous year’s results had included a one-time income of PKR 10.7 billion due to the waiver of Shell Group liabilities.

According to a statement by Wafi Energy Company, the name change to Wafi Energy Pakistan Limited follows the acquisition by Wafi Energy Holding Limited, an affiliate of the Saudi-based Asyad Group, which now holds approximately 87.78% of the company’s total issued share capital. Despite the rebranding, the Shell brand will continue its presence in Pakistan through retail and brand licensing agreements, with Wafi Energy serving as the exclusive brand licensee.

In the past year, the company’s Lubricants business increased its market share through its Helix and Advance products. Additionally, Wafi Energy secured a significant win in the Saindak Gold and Copper mining project and formed an exclusive partnership in the Thar Coal Project. The Mobility division expanded by adding 16 new sites and renovating nine existing locations. The convenience retail sector also saw a 28% year-on-year growth.

Wafi Energy Pakistan Limited emphasized its commitment to operational excellence, safety, and strengthening its financial position, along with fulfilling its responsibilities to society.

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