Wafi Energy Pakistan delivers continued growth in Q1 2026
Karachi, April 30th, 2026 – The Board of Directors of Wafi Energy Pakistan Limited (WEPL) today announced the company’s financial results for the quarter ended March 31, 2026. The company reported a profit after tax of PKR 2,164 million, compared with PKR 873 million in the same period last year, a growth of 148%. The performance reflects steady operations and continued investment through a period of considerable global energy market volatility.
The quarter also brought external recognition across two distinct areas of the company’s work. Wafi Energy won the Circular Economy Award at the 15th International CSR Awards for its eco-friendly Shell fuel station in Rawalpindi, which is constructed using recycled plastic. The company received an HR Metrics DEI Survey 2026 award to recognize leading representation of women at the managerial level.
Wafi Energy continued to expand its retail footprint, adding 18 new Shell retail sites, 6 new Shell Select convenience stores and upgrading 6 Shell stations. During the quarter, growth in the Lubricants business was broad-based, with expansion in the OEM and mining segment, growth in process oils and continued strength in fleet channels. The company signed a partnership with Indus Motor Company (IMC), marking entry into the Toyota aftermarket lubricants segment in Pakistan. These developments reflect Wafi Energy’s ongoing commitment to strengthening its footprint and delivering improved consumer experience.
Commenting on the performance, Zubair Shaikh, Chief Executive Officer, said “This has been a quarter shaped by external volatility and geopolitical challenges. Our focus has been to preserve energy security, keep supply steady, expand the network, and continue investing in areas that matter for Pakistan’s needs. The result this quarter reflects our approach, and we intend to operate with the same discipline – supplying the country reliably, strengthening the business, and delivering long-term value for our shareholders.”
Looking ahead, Wafi Energy Pakistan Limited remains focused on operational excellence, strategic growth, and generating shareholder value.
About Wafi Energy Pakistan Limited
Wafi Energy Pakistan Limited is a licensee for Shell fuel and lubricants 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 79-year history.
Wafi Energy Pakistan Limited 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 680+ 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, the company has endeavored to support Pakistan’s developmental priorities.