Wafi Energy Pakistan Limited, formerly Shell Pakistan Limited, announced that its board has authorised management to explore potential investment and acquisition opportunities in the country’s oil marketing sector.
The listed OMC disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Friday.
“At a meeting of the Board of Directors of Wafi Energy Pakistan Limited held at the registered office of the company on Thursday, 21 August, the Board has in-principal authorized the management to pursue potential investment/acquisition opportunities in the oil marketing sector, including for the company to explore the feasibility/viability of the same,” read the notice.
Wafi is a publicly listed company incorporated in Pakistan. The company is majority-owned by Wafi Energy Holding Limited, based in Abu Dhabi, United Arab Emirates.
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Wafi is the exclusive brand licensee for Shell in Pakistan. In January this year, the company released its first annual report under new ownership, marking a transition point for the company following its acquisition by Abu Dhabi-based Wafi Energy Holding Limited.
The transaction, completed in October 2024, involved the purchase of a 77.42% stake from Shell Petroleum Company, followed by an additional 10.36% acquired from public shareholders, bringing Wafi’s total holding to 87.78%.
As per the company’s latest financial results, WAFI reported a profit after tax of Rs1.27 billion during the first half-year ended June 30, 2025, registering a decline of 3% year-on-year. Following the decrease, the company’s earnings per share stood at Rs5.97 in 1HFY25, as compared to Rs6.16 per share in the same period last year.
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