Islamabad: The board of directors of Shell Pakistan Limited (SPL) has announced the company’s financial results for the year ended 31 December 2023. The company reported a profit after tax of PKR 5.8 billion for 2023 compared to a loss of PKR 72 million in 2022.
In October 2023, Shell Petroleum Company Limited, a subsidiary of Shell plc (Shell), signed an agreement to sell its 77.42% majority stake in Shell Pakistan Limited (SPL) to Wafi Energy LLC. Completion of the transaction is subject to necessary regulatory approvals, compliance with legal requirements and completion of other closing formalities.
The SPL notes and welcomes the government’s recent decision to increase industrial margins and take strong measures to combat black market activities aimed at stabilizing the currency.
The Mobility division continues to deliver best-in-class customer value to customers across the country by introducing 27 new locations and modernizing its existing network, while promoting secure refueling, easy payment solutions and implementing customer-focused programs. Shell Lubricants continues to maintain market share despite industry challenges.
Shell Tameer plays an important role in upskilling and recognizing young entrepreneurs. Training courses were organized across Pakistan involving universities and incubation centers that trained more than 700 individuals, including 560 startups. Shell Tameer also celebrated the 10th annual Tameer Awards, which had over 400 entries, with 6 winners and 6 finalists announced.
SPL remains committed to operational excellence, safety, strengthening its financial position and playing a responsible role in society.
