Shell Pakistan swings back to profitability

KARACHI: Shell Pakistan Ltd (SPL) posted a profit-after-tax of Rs5.8 billion during 2023 compared to a loss of Rs72 million in 2022 as sales rose to Rs438bn from Rs418bn. In October 2023, Shell Petroleum Company Ltd, a subsidiary of Shell plc (Shell), signed an agreement to sell its 77.42pc majority interest in SPL to Wafi Energy LLC. The completion of the transaction is subject to requisite regulatory approvals, completion of legal requirements and satisfaction of other closing formalities. The mobility business continues to provide best-in-class customer value propositions for customers across the country, with the introduction of 27 new sites and modernising of its existing network.