Shell Pakistan changes name to Wafi Energy Pakistan Limited

Shell Pakistan Limited (SHEL) has officially changed its name to ‘Wafi Energy Pakistan Limited’, effective January 13, 2025.

The development comes following the issuance of a Certificate of Incorporation on Change of Name by the Securities and Exchange Commission of Pakistan (SECP).

“The company is pleased to inform that the SECP has issued a Certificate of Incorporation on Change of Name dated January 13, 2025. Consequently, the company’s name has changed from ‘Shell Pakistan Limited’ to ‘Wafi Energy Pakistan Limited’ with effect from January 13, 2025,” SHEL said in a notice to the Pakistan Stock Exchange (PSX) on Tuesday.

The company also shared a copy of SECP’s Certificate of Incorporation.

“I hereby certify that pursuant to the provisions of Section 13 of the Companies Act, 2017 (XIX of 2017) read with regulation 6 of the Companies’ regulations, the name of SHELL PAKISTAN LIMITED has been changed to WAFI ENERGY PAKISTAN LIMITED and that the said company has been duly incorporated as a company under the provisions of the said Act,” read the SECP’s statement.

The SECP informed that the change is subject to the condition that for ninety days from the date of issue of this certificate, “the company shall continue to mention its former name along with its new name on the outside of every office or place in which its business is carried on and in every document or notice”.

In October last year, the Board of Directors (BoD) of SHEL approved changing the company’s name to the proposed ‘Wafi Energy Pakistan Limited’.

The development came following Wafi Energy Holding Limited’s (Wafi) acquisition of an additional 22,165,837 ordinary shares of SHEL, representing approximately 10.36% of the company’s total issued share capital.

In July, Saudi Group Asyad Holding through UAE-based Wafi Energy Holding Limited acquired 165,700,304 or 77.42% shareholdings and control of Shell Pakistan Limited.

Wafi now holds 187,866,141 ordinary shares of SHEL, representing approximately 87.78% of the total issued share capital of the company.

Meanwhile, the previous parent company, Shell Petroleum Company Limited divested its shareholding in SHEL.

The divestment process began in June 2023 when Shell Pakistan Limited announced that its parent company, Shell Petroleum Company Limited (SPCo), had notified its intent to sell its shareholding in the Pakistani entity.

Back then, Shell Pakistan said that the development would have no impact on its current business operations, which will continue.