Saudi Arabia’s Asyad Holding Group has secured 77.42% ownership of Shell Pakistan Limited.
According to the Competition Commission of Pakistan (CCP), in 2023, the Board of Directors of Shell Pakistan Limited (SPL) and its parent company, Shell Petroleum Company Limited (SPCo), announced their decision to sell SPL’s shares. These shares were purchased through Wafi Energy Holding Limited, a UAE-based entity.
As per CCP release, the Competition Commission of Pakistan has sanctioned this acquisition under the Competition Act of 2010, confirming the transaction’s aim of enhancing the retail oil sector in Pakistan.
Listed on the Pakistan Stock Exchange, Shell Pakistan Limited plays a significant role in the nationwide retail distribution of motor fuels and lubricants.
Additionally, Wafi Energy LLC, a subsidiary wholly owned by Asyad Holding Group, focuses on operating fuel stations across Saudi Arabia, as stated in the release.
Shell Pakistan manages over 600 mobility sites, 10 fuel terminals, a lubricant oil blending plant, and a 26% stake in Pak-Arab Pipeline Company Limited.
