Wafi Energy Pakistan to Explore Investments in Oil Marketing Sector

Wafi-Energy

KARACHI: Wafi Energy Pakistan Limited, formerly Shell Pakistan Limited, has announced that its board has authorised the management to explore potential investment and acquisition opportunities in the country’s oil marketing sector.

The development was disclosed in a notice to the Pakistan Stock Exchange (PSX) on Friday, stating that the board, in its meeting held on August 21, granted in-principle approval for management to assess the feasibility and viability of such opportunities.

Wafi Energy Pakistan, a publicly listed company incorporated in Pakistan, is majority-owned by Abu Dhabi-based Wafi Energy Holding Limited. The company is the exclusive brand licensee for Shell in Pakistan.

The transition followed the October 2024 acquisition, in which Wafi Energy Holding purchased a 77.42% stake from Shell Petroleum Company and subsequently acquired another 10.36% from public shareholders, raising its total shareholding to 87.78%. In January 2025, the company issued its first annual report under the new ownership.

According to its latest financial results, Wafi posted a profit after tax of Rs1.27 billion for the half-year ended June 30, 2025, down 3% year-on-year. Earnings per share declined to Rs5.97 in 1HFY25 compared to Rs6.16 in the same period last year.

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