Wafi Energy Pakistan
A Pakistani oil marketing company operating Shell-branded fuel, lubricant, convenience and related energy businesses.
Last updated August 26, 2026
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Overview
Wafi Energy Pakistan is a Pakistani oil marketing company headquartered in Karachi. The company operates as Wafi Energy Pakistan Limited and continues to conduct much of its customer-facing business under the Shell brand. It is a subsidiary of Wafi Energy Holding, a Saudi Arabian oil and gas group, following the acquisition of control of the former Shell Pakistan business in 2024. The company’s commercial history in Pakistan reaches back to the country’s independence. In 1947, the Burmah Shell Oil Storage and Distribution Company of India was reorganised as the Burmah Shell Oil Distribution Company of Pakistan. That business formed part of a longer Shell presence in the Indian subcontinent, whose commercial roots extended to the early twentieth-century cooperation between The Shell Transport and Trading Company and Royal Dutch Petroleum. Shell’s regional marketing interests had also been combined with those of Burmah Oil during the late 1920s. During the 1950s, the predecessor business promoted kerosene in Pakistan through mass-market advertising that used popular singers, including Mohammed Rafi. The corporate structure changed again during the political and economic reorganisation of the region. In 1965, Shell sold half of its interest in the business operating in East Pakistan, after which a separate East Pakistan company, Burmah Eastern Limited, was established. In 1970, the Pakistan business became Pakistan Burmah Shell Limited, commonly abbreviated as PBS, after 51 percent of the shareholding was transferred to Pakistani investors. The company was listed on the Karachi Stock Exchange, while Shell and Burmah retained the balance of the ownership. Burmah exited in February 1993, and Shell Petroleum raised its interest to 51 percent. The company was consequently renamed Shell Pakistan Limited. Shell gradually increased its ownership during the following decade, ultimately reaching 77.42 percent. Under Shell ownership, the business developed a nationwide downstream network covering retail fuels, lubricants, compressed natural gas and commercial petroleum distribution. Wafi Energy Pakistan markets products through more than 680 Shell-branded retail stations across Pakistan. Its fuel portfolio includes Shell Super, Shell Diesel and Shell V-Power, while selected stations operate convenience stores under the Shell Select name. Its lubricants portfolio includes Shell Helix for passenger vehicles, Shell Rimula for heavy-duty and commercial applications, and Shell Advance for motorcycles. The company also has an interest in Pakistan’s petroleum logistics infrastructure through a 26 percent holding in Pak-Arab Pipeline Company, or PAPCO. PAPCO operates the 786-kilometre White Oil Pipeline, which transports diesel and motor gasoline from port facilities around Karachi to inland depots. The company discontinued its aviation-fuel business in Pakistan in 2022. In 2024, Asyad Holding, through the United Arab Emirates-based Wafi Energy Holding Limited, acquired Shell’s 77.42 percent shareholding and control of Shell Pakistan Limited. The transaction marked the change from a Shell-controlled listed oil marketer to a company controlled by Wafi Energy while preserving the Shell-branded retail and product operations described in the available reference material. Wafi Energy Pakistan therefore combines a long-established Pakistani downstream infrastructure with a new Saudi-linked ownership structure.
History
Wafi Energy Pakistan’s history is rooted in the development of Shell’s petroleum distribution business in the Indian subcontinent and in the post-independence restructuring of that business in Pakistan. The relevant commercial lineage reaches back to 1903, when The Shell Transport and Trading Company and Royal Dutch Petroleum formed a partnership to supply petroleum products across Asia. In 1928, Royal Dutch Shell combined its Indian marketing interests with those of Burmah Oil, creating the corporate background from which the later Pakistan operation emerged. Following Pakistan’s independence in 1947, the Burmah Shell Oil Storage and Distribution Company of India was reorganised as the Burmah Shell Oil Distribution Company of Pakistan. The enterprise became an important participant in the country’s developing petroleum market. During the 1950s it promoted kerosene through popular advertising, including campaigns featuring well-known singers such as Mohammed Rafi. This indicates that the predecessor business marketed petroleum products not only through industrial distribution but also through mass consumer communication. The company’s ownership and structure changed during the political division of Pakistan. In 1965, Shell sold half of its interest in the operation located in East Pakistan. A separate company, Burmah Eastern Limited, was subsequently created for East Pakistan, and it was listed on the stock exchange with majority ownership held by Pakistani investors. The western Pakistan business followed a different corporate path. In 1970, 51 percent of its shareholding was transferred to Pakistani investors, including National Investment Trust. The company was listed on the Karachi Stock Exchange and renamed Pakistan Burmah Shell Limited, while Shell and Burmah retained minority interests. Burmah later withdrew from the business. In February 1993, the Burmah Group divested its interest, and Shell Petroleum increased its stake to 51 percent. The company was renamed Shell Pakistan Limited. Shell then progressively raised its holding during the next decade, reaching 77.42 percent in the early 2000s. Under Shell control, the business expanded and maintained a large downstream presence in Pakistan, including fuel retailing, lubricants, compressed natural gas and commercial petroleum supply. Its retail network developed around Shell-branded service stations. The business marketed fuels such as Shell Super, Shell Diesel and the higher-grade Shell V-Power. Retail locations also offered Shell Select convenience stores. In lubricants, the portfolio included Shell Helix for passenger cars, Shell Rimula for heavy-duty vehicles and equipment, and Shell Advance for motorcycles. The company also participated in infrastructure through a 26 percent interest in Pak-Arab Pipeline Company. PAPCO operates the 786-kilometre White Oil Pipeline, a major cross-country route carrying diesel and motor gasoline from Karachi ports toward inland depots. The other stated shareholders were Pakistan Arab Refinery Company, with 62 percent, and Pakistan State Oil, with 12 percent. The business later narrowed its operating scope by discontinuing aviation-fuel activities in Pakistan in 2022. In 2024, Asyad Holding, a Saudi-based group, acquired Shell Pakistan’s 77.42 percent shareholding and control through Wafi Energy Holding Limited, which is based in the United Arab Emirates. This transaction ended Shell’s controlling ownership of the Pakistan oil marketing company and established its current Wafi Energy identity. The available material indicates that the company continues to use Shell branding across its retail and product operations, making it a transition-stage downstream business: its ownership is linked to Wafi Energy Holding, while much of its market presence remains associated with the long-established Shell network.
- 2024
Wafi Energy Holding takes control
[1]Asyad Holding acquired Shell Pakistan’s 77.42 percent shareholding and control through Wafi Energy Holding Limited.
- 2022
Aviation-fuel business is discontinued
[1]The company ended its aviation-fuel activities in Pakistan after previously being described as the country’s second-largest jet-fuel supplier.
- 2000
Shell ownership rises to 77.42 percent
[1]Shell Petroleum progressively increased its ownership during the following decade, reaching a 77.42 percent holding by the early 2000s.
- 1993
Shell Pakistan is created
[1]The Burmah Group divested its interest, Shell Petroleum increased its stake to 51 percent, and the company was renamed Shell Pakistan Limited.
- 1970
Pakistan Burmah Shell becomes a listed company
[1]The company was renamed Pakistan Burmah Shell Limited after 51 percent of its shares were transferred to Pakistani investors, and it was listed on the Karachi Stock Exchange.
- 1965
Shell reduces its stake in the East Pakistan operation
[1]Shell sold half of its interest in the business operating in East Pakistan, after which Burmah Eastern Limited was formed as a separate company.
- 1950
Kerosene promotion expands through popular advertising
[1]During the 1950s, the predecessor business promoted kerosene in Pakistan using advertisements featuring popular singers, including Mohammed Rafi.
- 1947
Pakistan predecessor company is reorganised
[1]After Pakistan’s independence, the Burmah Shell Oil Storage and Distribution Company of India was reorganised as the Burmah Shell Oil Distribution Company of Pakistan.
- 1928
Shell combines Indian marketing interests with Burmah Oil
[1]Royal Dutch Shell merged its marketing interests in India with those of the Burmah Oil Company, creating an important predecessor structure.
- 1903
Shell and Royal Dutch Petroleum establish an Asian petroleum partnership
[1]The Shell Transport and Trading Company and Royal Dutch Petroleum entered a partnership to supply petroleum across Asia, forming part of the commercial lineage behind the later Pakistan business.
Products and positioning
A nationwide downstream energy and mobility business combining Shell-branded fuels and lubricants with retail stations, convenience services and petroleum logistics infrastructure in Pakistan.
Retail gasoline
Shell Super
A mainstream Shell-branded gasoline product sold through the company’s Pakistani retail-station network. It forms part of the core consumer-fuel offering alongside Shell Diesel and the premium Shell V-Power grade.
Retail diesel fuel
Shell Diesel
A Shell-branded diesel product marketed through Wafi Energy Pakistan’s retail network. It serves road-transport and other customers requiring diesel fuel at service stations across Pakistan.
Premium gasoline
Shell V-Power
The company’s premium gasoline offering in Pakistan. Shell V-Power is positioned above the standard retail gasoline range and is sold through selected Shell-branded stations.
Convenience retail
Shell Select
A convenience-store format operated at selected Shell-branded retail stations. It extends the station proposition beyond fuel by providing consumer retail services at mobility locations.
Passenger-vehicle lubricants
Shell Helix
A Shell lubricant range marketed for passenger vehicles. It is part of the company’s automotive lubricants portfolio and complements its commercial-vehicle and motorcycle lubricant brands.
Heavy-duty lubricants
Shell Rimula
A lubricant brand aimed at heavy-duty vehicles and commercial equipment. Wafi Energy Pakistan markets it as part of the Shell-branded lubricants business serving transport and industrial users.
Motorcycle lubricants
Shell Advance
A Shell lubricant range for motorcycles. It gives the company a dedicated product line for two-wheeler users within Pakistan’s broader retail and mobility market.
Automotive gas
Compressed natural gas
Compressed natural gas has been among the energy products marketed through the company’s downstream operations in Pakistan. The supplied material does not specify the current scale or station count for this offering.
Marketing campaigns
- 1950Kerosene singer advertising
Pakistan
During the 1950s, the predecessor Burmah Shell business promoted kerosene through advertisements that featured popular singers, including Mohammed Rafi.
Outcome. The available reference identifies the campaign activity but does not provide performance measurements or a documented commercial outcome.
Brand decisions
2024
Transfer of control to Wafi EnergyM&ABackground
Shell plc’s Pakistan business was represented by Shell Pakistan Limited, in which Shell held a 77.42 percent controlling shareholding.
Action taken
Asyad Holding acquired the controlling shareholding through UAE-based Wafi Energy Holding Limited.
Aftermath
The business became Wafi Energy Pakistan while the available reference states that its retail and product operations continued to use Shell branding.
2022
Exit from aviation fuelStrategyBackground
The company had operated in Pakistan’s aviation-fuel market and was previously described as the country’s second-largest jet-fuel supplier.
Action taken
Shell discontinued its aviation-fuel business in Pakistan.
Aftermath
The company continued its other downstream activities, including retail fuels, lubricants, compressed natural gas and petroleum logistics interests.
Sources1 sources
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