ISLAMABAD: Wafi Energy Holding Limited has become the majority shareholder of Shell Pakistan Limited (SPL) after Shell Petroleum Company Limited, a subsidiary of global Shell plc (Shell), completed the sale of its 77.42 percent interest in SPL, a statement from the group said on Thursday.
Wafi Energy, an established Saudi company and an affiliate of the Asyad Group, now holds approximately 87.78 percent of the total issued share capital of SPL. The Shell brand will remain in Pakistan through retail and brand licensing agreements, with SPL as the exclusive brand licensee.
“Wafi Energy is excited to announce its entry into Pakistan by acquiring majority ownership of Shell Pakistan Limited. This marks a significant milestone in the Asyad Group’s commitment to expanding its presence in Pakistan and the region,” Ghassan Amoudi, CEO of Asyad Holding Group and incoming Chairperson of SPL, said.
“As the exclusive Shell Licensee, we are delighted that the Shell brand remains in Pakistan. This continuation builds on a strong legacy, supported by a team of highly skilled professionals who ensure customers have access to Shell’s premium fuel and lubricant offerings, all delivered with the highest safety and security standards.”
Waqar Siddiqui, the Chief Executive and Managing Director of Shell Pakistan Limited,said the company would continue to build a “sustainable energy future for Pakistan, combining Wafi Energy’s commitment to growth and investment and Shell’s strong legacy of innovation and trust in the country.
“This new chapter offers Shell Pakistan Limited the opportunity to build upon this strong foundation, ensuring the continued delivery of quality products to their valued customers.”
SPL is one of the oldest multinationals in Pakistan with a network of 600+ sites, countrywide storage facilities and a broad portfolio of global lubricant brands.
Shell has endeavored to support Pakistan’s developmental priorities, from developing and distributing energy by land, air and sea, to providing petroleum products for the construction of mega projects like the Mangla Dam and Kotri Barrage, expanding the country’s growing road infrastructure, to powering the first flights of Pakistan International Airlines, and supporting the next generation of innovative entrepreneurs in Pakistan.
Saudi Arabia’s Wafi Energy becomes majority shareholder in Shell Pakistan
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Saudi Arabia’s Wafi Energy becomes majority shareholder in Shell Pakistan
- Wafi Energy, an affiliate of Asyad Group, holds approximately 87.78% of the total issued share capital of SPL
- SPL has a network of 600+ sites, countrywide storage facilities and broad portfolio of global lubricant brands
Pakistan’s northwestern province warns of road closures as rain, snow forecast
- Khyber Pakhtunkhwa says road closures possible in Naran, Kaghan, Kalam and Chitral
- Provincial authorities urge rescue services and relevant departments to stay on alert
PESHAWAR: Pakistan’s northwestern Khyber Pakhtunkhwa province warned on Saturday roads leading to some of its most popular tourist destinations could be closed due to rain and snowfall, urging authorities and travelers to remain alert as adverse weather conditions intensify.
The alert comes as Pakistan’s northern and northwestern regions continue to experience cold weather, with intermittent spells of rain and snowfall disrupting daily life and increasing the risk of landslides and road blockages.
Last month, an avalanche struck a house in the province’s Chitral district, killing at least nine people and injuring a child.
“Khyber Pakhtunkhwa is likely to receive rain with thunder from tomorrow night until Tuesday, while snowfall is expected in mountainous areas,” the Provincial Disaster Management Authority (PDMA) said in a statement.
“In view of the prevailing weather conditions, the PDMA has directed all district administrations and relevant institutions to remain alert and take precautionary measures,” it added.
The PDMA said rain and snowfall could lead to road closures and slippery conditions in upper areas including Naran, Kaghan, Kalam and Chitral, advising tourists to avoid unnecessary travel and exercise caution.
It said rain is also expected in several areas of the province, including Peshawar, Mardan, Swabi, Nowshera, Charsadda, Bajaur, Mohmand, Khyber, Orakzai, Kurram, Kohat, Hangu, Karak, Bannu, North and South Waziristan, Lakki Marwat, Tank and Dera Ismail Khan.
The authority added that district administrations, rescue services and other relevant departments have been placed on high alert, while residents were advised to remain in safe locations during storms, snowfall and strong winds.
