Islamabad: In a strategic move to expand its presence in the Pakistani oil market, Saudi-based Asyad Holding, through its UAE-based subsidiary Wafi Energy Holding Limited, has successfully acquired a 77.42% shareholding in Shell Pakistan Limited. This acquisition marks a significant shift in the retail oil sector in Pakistan.

According to Competition Commission of Pakistan, the transaction received regulatory approval under Section 11 of the Competition Act, 2010, paving the way for Asyad Holding to implement its expertise in fuel station management and operation, mirroring its business model in Saudi Arabia. Shell Pakistan, a major player in the retail supply of motor fuels and lubricants, is expected to continue its operations without any major shift in market share dynamics. The Competition Commission’s analysis confirmed that the new arrangement would not lead to a dominant position in the market, thereby supporting healthy competition and potentially enhancing service standards within the sector.