Wafi Energy buys majority stakes in Shell Pakistan

Saudi Arabia’s Wafi Energy Holding, acquires a majority stake in Shell Pakistan following Shell Petroleum Co., a subsidiary of global Shell plc, completing the sale of its 77.42 per cent interest in Shell Pakistan Limited.

Wafi Energy is affiliated with the Asyad Group, now owns approximately 87.78 per cent of SPL’s total issued share capital, as reported by Saudi news outler Arab news.

SPL is one of the oldest multinational corporations in Pakistan, boasting a network of over 600 fuel retailing sites, extensive storage facilities, and a wide range of global lubricant brands.

Shell has played a role in supporting Pakistan’s development goals, from the distribution of energy across various transport modes to supplying petroleum products for major projects like the Mangla Dam and Kotri Barrage.

The company has also contributed to expanding the nation's road infrastructure, powering the inaugural flights of Pakistan International Airlines, and fostering the next generation of innovative entrepreneurs in the country.

Original story Saudi Arabia’s Wafi Energy Holding buys majority stakes in Shell Pakistan | Energy – Gulf News