Wafi Energy Pakistan Limited (formerly Shell Pakistan Limited) announces financial results for Q1 2025
Pakistan, April 30, 2025 – The Board of Directors of Wafi Energy Pakistan Limited (WEPL) announced the first quarter results for the company. For the period ending March 31, 2025, the company reported a profit after tax of PKR 873 million compared to a profit after tax of PKR 314 million in the same period last year.
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WEPL maintained its market share despite ongoing challenges in the oil industry — including rising operational costs from changes to the sales tax regime and persistent illicit petroleum trade — demonstrating operational resilience and strong network controls.
The company continues to collaborate with industry stakeholders and engage with regulatory authorities to ensure industry margins accurately reflect cost pressures.
In the Lubricants business, WEPL achieved growth in both the consumer (B2C) and industrial (B2B) segments. The company secured key strategic partnerships with Original Equipment Manufacturers (OEMs) such as Hyundai and Suzuki. Additionally, the B2B segment maintained its leadership in the mining sector.
In the Mobility segment, WEPL expanded its Shell-branded retail network, adding four new sites and upgrading three existing stations. Shell V-Power, the company’s premium fuel, achieved its highest-ever quarterly volume, with an industry-leading penetration rate.
WEPL reaffirmed its commitment to social impact through its Tameer platform, which trained 52 entrepreneurs via workshops in Lahore and Rawalpindi. In celebration of International Women’s Day, WEPL organized a vehicle maintenance and safety session for women in Karachi, equipping participants with essential automotive knowledge and road safety tips.
WEPL remains dedicated to operational excellence, safety, strengthening its financial position, and fulfilling its responsible role in society.
About Wafi Energy Pakistan Limited
Wafi Energy Pakistan Limited (formerly Shell Pakistan Limited) is a licensee for Shell in Pakistan. Wafi Energy Pakistan is majority owned by Wafi Energy Holding Limited (“Wafi Holding”).
In 2024, Wafi Holding acquired an 87.78% stake in Shell Pakistan Limited, marking its entry into the Pakistani market. This transition represents more than just a change in ownership; it signals a strategic foreign GCC investment aimed at expanding the country’s energy and fuel retail industry infrastructure. It is important to note that an associated company to Wafi Holding has an agreement with Shell Brands International AG to be the sole representative of the Shell brand for fuel stations in Saudi Arabia. The strategic acquisition in Pakistan allows Wafi Holding to expand its energy business and strengthen its presence in the country, where Shell has a 77+ year history.
Wafi Energy Pakistan stands as one of the oldest and established energy partners in the industry and a leading player in the lubricants market in Pakistan. The company has a network of 600+ Shell retail sites, countrywide oil terminal facilities, Lubricants oil blending plant, and a broad portfolio of global Shell Lubricant brands including Helix, Rimula and Advance lubricants. The company is the largest private investor in the strategic White Oil Pipeline operated by Pak-Arab Pipeline Company (PAPCO). With a legacy since 1947 in the country, developing and distributing energy by land, air and sea, the company has endeavored to support Pakistan’s developmental priorities.
The investment by Wafi Holding, an Arabian Gulf company, marks a significant milestone in Pakistan’s energy sector. Wafi Holding’s entry into Pakistan’s oil marketing industry is poised to advance the competitive landscape, bringing in growth, expertise, innovative solutions, and a long-term commitment to sustainable energy development.
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