| Wafi Energy Pakistan Limited | |
| Former Name: | Burmah Shell Oil Distribution Company of Pakistan (1947–1970) Pakistan Burmah Shell (1970–1993) Shell Pakistan Limited (1993–2024) |
| Type: | Subsidiary |
| Traded As: | KSE 100 component |
| Industry: | Oil and gas |
| Location: | Karachi, Pakistan |
| Area Served: | Pakistan |
| Key People: | Waqar Siddiqui (CEO) |
| Products: | Gasoline, Aviation fuels, Compressed natural gas and lubricants |
}Wafi Energy Pakistan Limited, doing business as Shell, is a Pakistani oil marketing company based in Karachi.[1] [2] It is a subsidiary of Wafi Energy Holding, a Saudi Arabian oil and gas company.[3] Previously, it was a part of Shell plc.
Wafi Energy Pakistan's origins date back to 1899 with the establishment of Asiatic Petroleum, a joint venture between Shell Transport Company and Royal Dutch Petroleum Company, which initiated kerosene oil imports from Azerbaijan into the region.[4] A significant historical marker from this period is a storage tank from 1898.[4] The company's documented presence in the Indian subcontinent began in 1903 when The Shell Transport & Trading Company and the Royal Dutch Petroleum Company formed a partnership to supply petroleum to Asia.[4]
In 1928, Royal Dutch Shell merged its marketing interests in India with those of Burmah Oil Company Limited, creating the Burmah Shell Oil Storage & Distribution Company of India.[4]
After Pakistan gained independence in 1947, the company was renamed as Burmah Shell Oil Distribution Company of Pakistan.[4] During the 1950s, Shell Pakistan, then known as Burmah Shell, employed notable strategies for promoting kerosene oil, featuring popular singers such as Mohammed Rafi in their advertisements.[5]
In 1965, Shell sold half of its stake in Burmah Shell operating in East Pakistan. Later, a new company was formed for East Pakistan named Burmah Eastern Limited which was listed on the stock exchange and the majority of its shareholding was held by Pakistanis.
In 1970, it was listed on the Karachi Stock Exchange and the company was renamed as Pakistan Burmah Shell (PBS) Limited.[6] The Shell and Burmah Groups retained a 49 percent share, split evenly while National Investment Trust, a state-owned fund, owned a majority stake.[7]
In February 1993, during a period of economic liberalization, Burmah divested from PBS, allowing Shell Petroleum to increase its stake to 51 percent.[6] Over time, Shell Petroleum further increased its share to 77.42 percent in the early 2000s.[4] In 2024, Asyad Holding, a Saudi based group through UAE-based Wafi Energy Holding Limited acquired 77.42 percent shareholdings and control of Shell Pakistan Limited. [8]
Shell used to provide jet fuel at five major airfields across Pakistan and was the second largest Jet fuel supplier in Pakistan until 2022 when it discontinued the operations in aviation sector.[9]
It is the largest lubricant marketing company in Pakistan with over 20% share of the total lubricant market in the country. SPL's lubricant business is the second most profitable within Shell's Global Lubricant portfolio. The business is focused on sales of key Shell brands (Rimula, Helix & Advance) to high street traders and the transportation sector as well as heavy-duty brands to industrial customers and power sector customers.
It is the second-largest oil marketing company (OMC) and the largest private OMC in Pakistan with a 25% share of the white-oils market. The Retail business comprises over 800 retail outlets.
In August 2001, a new company called Pak-Arab Pipeline Company (PAPCO) was formed to construct and operate a critical 840 km white-oil pipeline for transportation of AGO from Karachi to depots in the centre and north of Pakistan. SPL has a 26% equity interest in PAPCO and the PAPCO's Chief Financial Officer remains a SPL nominee.[10]
| 31 December 2009[11] | 177,110 | 3,910 | 2,563 | 33,653 | 8,271 | |
| 31 December 2010[12] | 223,814 | 3,044 | 1,616 | 38,497 | 7,900 | |
| 31 December 2011[13] | 247,507 | 2,833 | 906 | 49,159 | 8,258 | |
| 31 December 2012[14] | 244,317 | 5 | (2,083) | 44,895 | 6,178 | |
| 31 December 2013[15] | 287,992 | 2,424 | 1,061 | 40,595 | 7,223 | |
| 31 December 2014[16] | 291,363 | 546 | (1,067) | 38,678 | 5,895 | |
| 31 December 2015[17] | 248,571 | 2,345 | 911 | 37,934 | 5,981 | |
| 31 December 2016[18] | 214,853 | 5,705 | 6,764 | 42,510 | 11,110 | |
| 31 December 2017[19] | 206,758 | 4,323 | 3,183 | 38,893 | 10,198 | |
| 31 December 2018[20] | 186,204 | (60) | (1,102) | 49,116 | 6,353 | |
| 31 December 2019[21] | 199,719 | (140) | (1,486) | 56,175 | 4,291 | |
| 31 December 2020[22] | 165,140 | (4,815) | (4,821) | 54,645 | (651) | |
| 31 December 2021[23] | 249,210 | 6,609 | 4,467 | 84,933 | 15,321 | |
| 31 December 2022[24] | 412,699 | 2,915 | (72) | 101,732 | 14,597 |