Shell Pakistan

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Shell Pakistan
Company typeSubsidiary
IndustryOil and gas
Founded1947; 77 years ago (1947)
HeadquartersKarachi, Pakistan
Key people
Waqar Siddiqui
(Managing Director and Country Chair)
ProductsGasoline, Aviation fuels, Compressed natural gas and lubricants
RevenueIncreaseRs. 412.7 billion (US$1.4 billion)}[1] (2022)
DecreaseRs. 2.95 billion (US$10 million)[1] (2022)
DecreaseRs. -72 million (US$−250,000)[1] (2022)
Total assetsIncreaseRs. 101.73 billion (US$350 million)[1] (2022)
Total equityDecreaseRs. 14.60 billion (US$51 million)[1] (2022)
ParentShell plc

Shell Pakistan Limited (شیل پاکستان لمیٹڈ) is a Pakistani oil and gas company which is a subsidiary of the Shell plc and has been in South Asia for over 100 years.[2] Shell's flagship business in Pakistan is the downstream retail marketing company, Shell Pakistan Limited, which has interests in downstream businesses including retail, lubricants and aviation.[3] On 14th June, 2023 Shell announced to sell its holding in Pakistan.

Shell Pakistan Ltd. has 782 petrol pumps,[4] whereas Cnergyico has 982 petrol pumps, the State-owned Pakistan State Oil Co. has 3,500 petrol pumps and Total Parco Pakistan Ltd. has 800 petrol pumps.[5]


Shell's origins date back to 1899 with the establishment of Asiatic Petroleum, a joint venture between Shell Transport Company and Royal Dutch Petroleum Company, which initiated kerosene oil imports from Azerbaijan into the region.[6] A significant historical marker from this period is a storage tank from 1898.[6]

The company's documented presence in the Indo-Pakistan subcontinent began in 1903 when The Shell Transport & Trading Company and the Royal Dutch Petroleum Company formed a partnership to supply petroleum to Asia.[6]

In 1928, Royal Dutch Shell merged its marketing interests in India with those of Burmah Oil Company Limited, creating the Burmah Shell Oil Storage & Distribution Company of India.[6]

After Pakistan gained independence in 1947, the company was renamed Burmah Shell Oil Distribution Company of Pakistan.[6]

During the 1950s, Shell Pakistan, then known as Burmah Shell, employed notable strategies for promoting kerosene oil.[7] In an era when advertising options were primarily limited to radio, Shell effectively utilized this medium.[7] They featured respected singers such as Mohammed Rafi in their advertisements, significantly contributing to the popularization of kerosene oil in the region.[7]

In 1970, a major restructuring occurred with 51 percent of the shares being transferred to Pakistani investors, leading to the creation of Pakistan Burmah Shell (PBS) Limited.[6] The Shell and Burmah Groups retained a 49% share, split evenly.[6]

The company underwent another significant change in February 1993 during a period of economic liberalization.[6] Burmah divested from PBS, allowing Shell Petroleum to increase its stake to 51 percent. Over time, Shell Petroleum further increased its share, now holding a 77 percent stake in what is currently known as Shell Pakistan Ltd (SPL).[6]


  • 1898 Asiatic Petroleum (percentage ownership of Shell – 100%)
  • 1928 Burmah Shell (percentage ownership of Shell – 50%)
  • 1947 Burmah Shell (Pakistan) (percentage ownership of Shell – 50%)
  • 1970 Pakistan Burmah Shell (percentage ownership of Shell – 24.5%)
  • 1993 Shell Pakistan Ltd. (percentage ownership of Shell – 51%)
  • 2000 Shell Pakistan Ltd. (percentage ownership by Shell – 59.7%)
  • 2002 Shell Pakistan Ltd. (percentage ownership by Shell – 76.1%)



Shell used to provide jet fuel at five major airfields across Pakistan and was the second largest Jet fuel supplier in Pakistan until 2022 when it discontinued the operations in aviation sector.[8]

Shell Lubricants[edit]

SPL is the largest lubricant marketing company in Pakistan with over 20% share of the total lubricant market in the country. SPL's lubricant business is the second most profitable within Shell's Global Lubricant portfolio.[citation needed] The business is focused on sales of key Shell brands (Rimula, Helix & Advance) to high street traders and the transportation sector as well as heavy-duty brands to industrial customers and power sector customers.

Shell Retail[edit]

SPL is the second-largest oil marketing company (OMC) and the largest private OMC in Pakistan with a 25% share of the white-oils market. The Retail business comprises over 800 retail outlets.[citation needed]

Pakistan Refinery Limited[edit]

Pakistan Refinery Limited (PRL), located at Karachi, is the third largest refinery in the country,[9] with a refining capacity of 2.1 mn tons per annum. The refinery was set up in the 1960s, and Shell has a 26% equity interest in it. With the introduction of the deemed duty element in the oil products pricing mechanism in 2001, the refineries profitability has improved considerably. As 50% of its profits are mandated by the Government to be retained for upgrading/modernization, PRL is now embarking on major up-gradation projects including expansion and de-sulphurization.

Pak-Arab Pipeline Company Limited[edit]

In August 2001, a new company called Pak-Arab Pipeline Company (PAPCO) was formed to construct and operate a critical 840 km white-oil pipeline for transportation of AGO from Karachi to depots in the centre and north of Pakistan. SPL has a 26% equity interest in PAPCO and the PAPCO's Chief Financial Officer remains a SPL nominee.[10]

Financial performance[edit]

Shell Pakistan Financial Performance (2009-2023)
Year ended Revenue (PKR million) Operating income (PKR million) Net income (PKR million) Total assets (PKR million) Total equity (PKR million)
31 December 2009[11] Decrease177,110 Increase3,910 Increase2,563 Decrease33,653 Increase8,271
31 December 2010[12] Increase223,814 Decrease3,044 Decrease1,616 Increase38,497 Decrease7,900
31 December 2011[13] Increase247,507 Increase2,833 Increase906 Increase49,159 Increase8,258
31 December 2012[14] Decrease244,317 Decrease5 Decrease(2,083) Decrease44,895 Decrease6,178
31 December 2013[15] Increase287,992 Increase2,424 Increase1,061 Decrease40,595 Increase7,223
31 December 2014[16] Increase291,363 Decrease546 Decrease(1,067) Decrease38,678 Decrease5,895
31 December 2015[17] Decrease248,571 Increase2,345 Increase911 Decrease37,934 Increase5,981
31 December 2016[18] Decrease214,853 Increase5,705 Increase6,764 Increase42,510 Increase11,110
31 December 2017[19] Decrease206,758 Decrease4,323 Decrease3,183 Decrease38,893 Decrease10,198
31 December 2018[20] Decrease186,204 Decrease(60) Decrease(1,102) Increase49,116 Decrease6,353
31 December 2019[21] Increase199,719 Decrease(140) Decrease(1,486) Increase56,175 Decrease4,291
31 December 2020[22] Decrease165,140 Decrease(4,815) Decrease(4,821) Decrease54,645 Decrease(651)
31 December 2021[23] Increase249,210 Increase6,609 Increase4,467 Increase84,933 Increase15,321
31 December 2022[24] Increase412,699 Decrease2,915 Decrease(72) Increase101,732 Decrease14,597

Corporate affairs[edit]


Farooq Rehmatullah succeeded David M Weston in 2001, to become the first Pakistani national CEO of SPL. He retired in 2006. SPL Managing Directors

  • Farooq Rehmatullah – April 2001-June 2006
  • Quentin D’Silva – May–August 2006
  • Zaiviji Ismail bin Abdullah – September 2006-July 2011
  • Sarim Sheikh – April 2011-July 2012
  • Omar Y Sheikh – June 2012 – July 2016
  • Jawwad A Cheema – August 2016
  • Zahra Shozab Ali – December 2020 – present

Waqar I. Siddiqui is the CEO and managing director of Shell Pakistan Limited. Prior to this role, he has held several senior leadership roles within the Shell Group. He was the Consultancy Manager in the Downstream Strategy & Consultancy team, Customer Experience Manager managing Global Operational Excellence for Retail and Retail General Manager in Indonesia managing Retail's entry into this new market.

Board of directors[edit]

  • Jawwad Ahmed Cheema (Chairman)
  • Waqar I. Siddiqui (Managing Director & CEO)
  • Faisal Waheed
  • Rafi H Basheer
  • Farrokh K Captain
  • Imran R Ibrahim
  • Nasser N S Jaffer
  • Zaffar A Khan
  • Haroon Rashid
  • Badaruddin F Vellani
  • Moon Hussain
  • Klaas Mantel

Shell Pakistan in 2012[edit]

Shell Pakistan Limited (SPL) has more than 850 retail stations in more than 330 cities, having 20% market share and is the largest foreign investor in Pakistan's oil marketing sector. Shell has been the leader in the lubricants sector since 2002, currently with more than 40% share of the organized sector. Shell's Commercial Fuels business (including commercial transport) is a significant opportunity for growth. Its aviation business supplies fuels to six key airports across Pakistan. Shell has 30% interest in the Pakistan Refinery Limited (PRL) (average production: 40,000 bpd) located in Karachi and a 26% interest in US$480mn 780 km white oil pipelines. In FY2010-2011 the Company earned a profit after tax of Rs. 906 million and recorded 11% growth in net revenue and 3% increase in gross profits compared to previous year.[25]

Government receivables[edit]

One of SPL's biggest challenges to doing business in Pakistan is Government receivables owed to it. These receivables are due on account of price differential claims, sales tax and Petroleum Development Levy. Currently, they stand at an all-time high of Rs 13,800 million (94.5 million GBP). Due to delays in the receipt of these receivables, Shell suffered approximately Rs 1,700 million in additional financing costs in 2011 to run day-to-day operations. Note: Given below are headings in Wikipedia article on Royal Dutch Shell.


  1. ^ a b c d e "Shell Pakistan Annual Report 2022" (PDF).
  2. ^ "Shell at a glance - Shell Pakistan". Archived from the original on 2 January 2011.
  3. ^ "Pakistan business structure - Shell Pakistan". Archived from the original on 14 May 2010.
  4. ^ "Timeline backdrop for approval" (PDF).
  5. ^ "Cnergyico leaps ahead of Shell and Total to become largest private-sector fuel retailer". Profit by Pakistan Today. 16 January 2022. Retrieved 24 January 2022.
  6. ^ a b c d e f g h i "Our History".
  7. ^ a b c Sheikh, Ali Tauqeer (29 June 2023). "The end of an era". DAWN.COM.
  8. ^ Alam, Kazim (18 August 2022). "Shell Pakistan to stop aviation operations". DAWN.COM.
  9. ^ "Pakistan Refinery Limited". Archived from the original on 27 September 2010.
  10. ^ Alam, Kazim (15 June 2023). "Foreign sponsor plans exit from Shell Pakistan". DAWN.COM.
  11. ^ "Shell Pakistan Annual Report 2009" (PDF). Shell Pakistan. 31 December 2009. Retrieved 12 November 2023.
  12. ^ "Shell Pakistan Annual Report 2010" (PDF). Shell Pakistan. 31 December 2010. Retrieved 12 November 2023.
  13. ^ "Shell Pakistan Annual Report 2011" (PDF). Shell Pakistan. 31 December 2011. Retrieved 12 November 2023.
  14. ^ "Shell Pakistan Annual Report 2012" (PDF). Shell Pakistan. 31 December 2012. Retrieved 12 November 2023.
  15. ^ "Shell Pakistan Annual Report 2013" (PDF). Shell Pakistan. 31 December 2013. Retrieved 12 November 2023.
  16. ^ "Shell Pakistan Annual Report 2014" (PDF). Shell Pakistan. 31 December 2014. Retrieved 12 November 2023.
  17. ^ "Shell Pakistan Annual Report 2015" (PDF). Shell Pakistan. 31 December 2015. Retrieved 12 November 2023.
  18. ^ "Shell Pakistan Annual Report 2016" (PDF). Shell Pakistan. 31 December 2016. Retrieved 12 November 2023.
  19. ^ "Shell Pakistan Annual Report 2017" (PDF). Shell Pakistan. 31 December 2017. Retrieved 12 November 2023.
  20. ^ "Shell Pakistan Annual Report 2018" (PDF). Shell Pakistan. 31 December 2018. Retrieved 12 November 2023.
  21. ^ "Shell Pakistan Annual Report 2019" (PDF). Shell Pakistan. 31 December 2019. Retrieved 12 November 2023.
  22. ^ "Shell Pakistan Annual Report 2020" (PDF). Shell Pakistan. 31 December 2020. Retrieved 12 November 2023.
  23. ^ "Shell Pakistan Annual Report 2021" (PDF). Shell Pakistan. 31 December 2021. Retrieved 12 November 2023.
  24. ^ "Shell Pakistan Annual Report 2022" (PDF). Shell Pakistan. 31 December 2022. Retrieved 12 November 2023.
  25. ^ "Shell Global" (PDF).