KARACHI: The Board of Directors of Shell Pakistan Limited (SPL) announced the company’s financial results for the year ended December 31, 2023. The company posted a profit after tax of Rs5.8 billion for 2023 compared to the loss of Rs72 million in 2022.

In October 2023, Shell Petroleum Company Limited, a subsidiary of Shell plc (Shell), signed an agreement to sell its 77.42 percent majority interest in Shell Pakistan Limited (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.

SPL acknowledges and welcomes the Government’s recent decision to increase industry margins and take robust measures to combat black market activities, which are aimed at stabilizing the currency.

The Mobility business continues to provide best-in-class customer value proposition for customers across the country, with the introduction of 27 new sites and modernizing of its existing network, while promoting safe refuelling, easy payment solutions and introducing customer-centric programmes. Shell Lubricants continues to maintain market share despite industry challenges.

Shell Tameer plays a keen role in up-skilling and recognizing young entrepreneurs. Learning sessions were organized across Pakistan engaging universities and incubation centres, training over 700 individuals which included 560 startups. Shell Tameer also celebrated the 10th Tameer Awards, which had more than 400 applications, out of which 6 winners and 6 runners-up were announced.

SPL remains committed to operational excellence, safety performance, strengthen its financial position, and play a responsible role in society.

Copyright Business Recorder, 2024