Shell plans to exit Pakistan after 75 years
The company is looking to sell its retail network, lubricants and aviation businesses in Pakistan.
Shell is set to completely divest from Pakistan to “simplify its portfolio,” the multi-energy company announced on their website.
Shell Pakistan has been in the country for 75 years and has a strong lubricants business and a substantial retail footprint, which includes over 700 sites. The company is seeing strong interest from international buyers.
The announcement also said “any sale will be subject to a targeted sales process, the execution of binding documentation and the receipt of applicable regulatory approvals. Shell is seeing strong interest from international buyers.”
Shell Petroleum Company owns 77.42% of the shares in SPL, with the rest spread across several individuals. SPL will also sell its shares in other ventures, including a 26% stake in the Pak-Arab Pipeline company.
