ISLAMABAD: Shell Pakistan Limited has officially changed its name to Wafi Energy Pakistan Limited, the change took effect on January 13, 2025, after the Securities and Exchange Commission of Pakistan (SECP) issued a Certificate of Incorporation for the name change.
In a notice to the Pakistan Stock Exchange (PSX), the company stated, “The SECP has issued a Certificate of Incorporation on Change of Name dated January 13, 2025. Consequently, the company’s name has been changed from Shell Pakistan Limited to Wafi Energy Pakistan Limited.” The notice also included a copy of the SECP’s certificate.
According to the SECP’s statement, the name change complies with Section 13 of the Companies Act, 2017, and related regulations. The SECP further instructed that, for 90 days from the date of the certificate, the company must display both its old and new names at all offices and on all official documents and notices.
The decision to change the company’s name follows Wafi Energy Holding Limited’s increased shareholding in Shell Pakistan. In October 2024, the company’s Board of Directors approved the proposed name change. This came after Wafi Energy Holding acquired 22.17 million shares, representing approximately 10.36% of the company’s issued capital.
Earlier in July 2024, Wafi Energy Holding, owned by Saudi Group Asyad Holding, had acquired a 77.42% majority stake in Shell Pakistan. With the latest share purchase, Wafi Energy Holding now owns approximately 87.78% of the company’s total issued capital.
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Report says, Name change is also part of a broader divestment process by Shell Petroleum Company Limited, the former parent company of Shell Pakistan. In June 2023, Shell Petroleum announced its intent to sell its stake in Shell Pakistan. This marked the beginning of the transition.
Despite the ownership and name change, Shell Pakistan previously assured stakeholders that its business operations would remain unaffected. The company had emphasized that it would continue its services as usual during and after the divestment process.
Wafi Energy Pakistan Limited now moves forward under its new name, representing a significant change in ownership and branding in Pakistan’s energy sector.
