Wafi Energy Pakistan Limited (formerly Shell Pakistan Limited) announces financial results for 2024

Karachi, February 20, 2025 – The Board of Directors of Wafi Energy Pakistan Limited (WEPL) has announced the company’s financial results for the year ending December 31st, 2024. The company reported a profit after tax of PKR 3.3 billion for 2024 compared to a profit of PKR 5.8 billion in 2023. It is important to note that the 2023 results included a one-time income of PKR 10.7 billion related to the waiver of Shell Group liabilities.
Recently, Shell Pakistan Limited officially changed its name to Wafi Energy Pakistan Limited, with Wafi Energy Holding Limited, an established Saudi company and affiliate of the Asyad Group, becoming the majority shareholder, holding approximately 87.78% of the company’s total issued share capital. The Shell brand will remain in Pakistan through retail and brand licensing agreements, with Wafi Energy as the exclusive brand licensee. The Lubricants business expanded its market share with Helix and Advance, while in the mining sector,
the company achieved a premium win in the Saindak Gold and Copper mining project and established an exclusive partnership in the Thar Coal Project. The Mobility business also made significant strides,
expanding its network by introducing 16 new sites and rebuilding 9 existing ones. The convenience retail
business demonstrated strong growth, with a 28% year-on-year increase.
WEPL remains dedicated to operational excellence, safety, strengthening its financial position, and fulfilling its responsible role in society. About Wafi Energy Pakistan Limited In Pakistan, Shell products and services are provided by Wafi Energy, a licensee of the Shell brand. Wafi Energy is an established energy company and an affiliate of the Asyad Group in the Kingdom of Saudi Arabia, today committed to growing its investments in Pakistan’s petroleum industry.