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Scan for outdated or missing drivers - takes under a minuteDriver Scan →Repair Windows errors before they cause bigger problemsFix Now →Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Shell Pakistan Limited became Wafi Energy Pakistan Limited on January 13, 2025, after Wafi Energy Holding Limited acquired majority ownership. Shell-branded fuel and lubricant operations continued under a brand licence, while the Pakistan Stock Exchange later changed the listed security’s name and symbol to Wafi Energy Pakistan Limited (WAFI), effective March 3, 2025.
What happened to Shell Pakistan?
The legal company name changed; the customer-facing Shell brand did not disappear. Wafi Energy Pakistan Limited continues operating its Mobility and Lubricants business under the Shell brand in Pakistan. The company’s 2024 annual report describes Wafi as the Shell brand licensee, and its January 2025 announcement calls it the exclusive licensee. Wafi Energy Pakistan Limited, Annual Report 2024; Wafi Energy’s name-change announcement.
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Shell’s Pakistan history page also identifies Wafi Energy as the provider or licensee for Shell products and services in the country. Shell Pakistan: Our history.
How the ownership and name change unfolded
- July 6, 2024: The Competition Commission of Pakistan announced approval of Wafi Energy Holding Limited’s acquisition. In its Phase I review, the Commission considered retail fuel, vehicle lubricants and industrial lubricants, and said the acquisition would not give Wafi Energy Holding a dominant position in those markets. Competition Commission of Pakistan announcement.
- October 31, 2024: Wafi Energy Holding’s ownership reached 87.78%. Wafi’s 2024 annual report says Shell Petroleum Company Limited sold its entire 77.42% shareholding and Wafi acquired a further 10.36% through the mandatory public offer.
- November 27, 2024: Members approved the proposed company name change at an extraordinary general meeting. The approval was subject to SECP approval and completion of required legal formalities. Extraordinary general meeting notice.
- January 13, 2025: The legal name change took effect after the Securities and Exchange Commission of Pakistan issued a Certificate of Incorporation on Change of Name. Annual Report 2024.
- March 3, 2025: The Pakistan Stock Exchange made the new security name and symbol, Wafi Energy Pakistan Limited and WAFI, effective. Pakistan Stock Exchange notice.
What changed—and what stayed the same
- Legal company name: Shell Pakistan Limited became Wafi Energy Pakistan Limited on January 13, 2025.
- Majority owner: Wafi Energy Holding Limited held 87.78% of the company effective October 31, 2024, according to the 2024 annual report.
- Consumer-facing brand: Shell-branded Mobility and Lubricants operations continued in Pakistan under a licence.
- Listed share symbol: The PSX security name and symbol changed to Wafi Energy Pakistan Limited and WAFI on March 3, 2025.
These are separate parts of the transition: a new legal identity and controlling shareholder did not, by themselves, mean an immediate end to Shell-branded operations.
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What the change means for customers and shareholders
For customers
The company’s annual report says it continued its Mobility and Lubricants business under the Shell brand. Shell fuel stations and lubricant products therefore remained Shell-branded as described in the company’s reporting; the legal rename alone is not evidence that those customer-facing operations stopped.
For shareholders
The listed security’s symbol became WAFI, effective March 3, 2025, under the PSX notice. The symbol identifies the listed company on the exchange; it is not a statement about the merits or future performance of the shares. Wafi Energy Pakistan’s 2024 annual report reported profit after tax of PKR 3,297 million and basic and diluted earnings per share of PKR 15.41 for the year ended December 31, 2024. Those are historical results for that reporting year, not a forecast.
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Why the regulator reviewed the acquisition
The Competition Commission’s July 2024 release says its Phase I assessment covered retail fuel, vehicle lubricants and industrial lubricants. It concluded the transaction would not result in Wafi Energy Holding gaining a dominant position in those markets. The release does not provide a market-share percentage in the cited passage, and its conclusion is not evidence of later changes in competition or service quality.
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