A business group from Saudi Arabia called Asyad Holding Group has bought 77.42% of the shares and control of Shell Pakistan Limited.
This was confirmed by the Competition Commission of Pakistan.
In 2023, Shell Pakistan Limited’s Board of Directors, along with its parent company Shell Petroleum Company Limited, decided to sell their shares in Shell Pakistan Limited.
The Saudi group purchased these shares through Wafi Energy Holding Limited, a company based in the United Arab Emirates (UAE).
The Competition Commission of Pakistan has approved this acquisition under the Competition Act of 2010. This move aims to strengthen the retail oil sector in Pakistan.
Shell Pakistan Limited is listed on the Pakistan Stock Exchange and is known for its extensive business in selling motor fuels and lubricants across the country.
Wafi Energy LLC, the buyer’s affiliate, is owned by Asyad Holding Group and specializes in managing fuel stations in Saudi Arabia.
Shell Pakistan operates over 600 sites for mobility, 10 fuel terminals, a plant for blending lubricant oils, and also owns 26% of Pak-Arab Pipeline Company Limited.