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Tag: Shell Pakistan Limited

  • Shell Pakistan signs ABHI for voluntary carbon compensation offer

    Shell Pakistan signs ABHI for voluntary carbon compensation offer

    KARACHI: Shell Pakistan Limited has signed ABHI, Pakistan’s first financial wellness platform, as its first official customer for the launch of its new voluntary carbon compensation program, according to a statement issued on Thursday.

    This program provides an avenue for all ABHI employees who are using Shell Fuel Cards to offset hard-to-abate carbon emissions from their fuel consumption by using Shell’s global portfolio of carbon credits.

    ABHI will be compensating for unavoidable carbon emissions generated from their sales fleet across Karachi, Lahore & Islamabad.

    These credits are generated from carbon compensation projects, including both nature projects, such as conservation, afforestation, and so on, and projects from other methodologies, operating around the world.

    These projects help avoid or remove greenhouse gas emissions. The emission reductions are independently verified by internationally recognized standards, e.g. Verified Carbon Standard (VCS) and Climate, Community & Biodiversity Standards (CCB), and carbon credits are issued.

    Some of these projects further promote the safeguarding of wildlife and communities and support some of the United Nations Sustainable Development Goals.

    Speaking at the ceremony, Managing Director and General Manager Mobility for Shell Pakistan, Waqar Siddiqui, stated: “Shell’s approach to emissions reduction follows the ‘avoid-reduce-compensate’ mitigation hierarchy. We recommend this approach to our partners and customers across sectors to accelerate the transition to net zero emissions. The use of high-quality carbon credits is one of the viable ways to mitigate hard-to-abate emissions. We are pleased to support ABHI on their decarbonization journey.”

    Omair Ansari, CEO, and Co-Founder at ABHI commented: “Shell is leading global initiatives to reduce carbon emissions and ABHI is proud to be a part of it. ABHI being a fast-growing fintech understands environmental responsibility and always looks forward to supporting climate-friendly initiatives. While we empower people financially, we believe in enabling social change along the way.”

  • Shell Pakistan announces Rs7.47 billion profit for 1HCY22

    Shell Pakistan announces Rs7.47 billion profit for 1HCY22

    KARACHI: Shell Pakistan Limited on Wednesday announced Rs7.47 billion as after tax profit for the half year ended June 30, 2022.

    The Board of Directors of Shell Pakistan Limited (SPL) approved the company’s half year results on August 17, 2022.

    The Company posted a profit after tax of Rs7.47 billion compared to the profit of Rs2.15 billion made in the same period last year.

    READ MORE: Shell Pakistan stops aviation operations across country

    The encouraging turnaround is mainly driven by improved business performance focusing on strategic priorities such as differentiated fuels and lubricants, the positive change in pricing formula to pricing agency S&P Global Platts’ indexes by the government, and safe and efficient fuel operations.

    During this period, the Mobility business launched 13 new retail sites which will help deliver increased volume. Shell V-Power remains the market leader in the premium fuels category.

    Through successful dialogue with the government, we will see expansion of our network in Punjab, which will help us grow.

    Furthermore, the Company authored a book on Road Safety titled “Once upon a Road” with the aim of driving the behaviours in keeping roads safer in Pakistan.

    READ MORE: Businessmen express shock over petroleum price hike in Pakistan

    The book will be part of the Care Foundation school curriculum of sixth grade across Pakistan. The Company also announced its decision to discontinue its aviation operations across Pakistan.

    Presently, SPL carries out its aviation related operations at four locations. They are Jinnah Airport in Karachi, Quetta International Airport, Begum Nusrat Bhutto Airport in Sukkur and Nawabshah Airport.

    After due consideration, SPL has decided that it is no longer commercially viable to continue with its aviation business in Pakistan.

    READ MORE: Attock Petroleum declares massive 277% growth in annual profit

    Shell Pakistan remains committed to continuing all its other businesses and operations in Pakistan, which remain unaffected.

    The Company will actively work to minimize impact of current challenges and endeavour to capture opportunities to ensure the company plays a key role in developing Pakistan’s energy future.

  • Shell Pakistan stops aviation operations across country

    Shell Pakistan stops aviation operations across country

    KARACHI: Shell Pakistan Limited on Wednesday announced to discontinue its aviation operations across the country.

    In a communication submitted to Pakistan Stock Exchange (PSX), the company said that a meeting of board of directors held on August 17, 2022, had taken the decision to discontinue Shell Pakistan Limited (SPL) aviation operations across Pakistan.

    Presently, SPL carries out its aviation related operations on the following locations: (i) Jinnah International Airport (JIAP) (ii) Quetta International Airport (QIAP) (iii) Begum Nusrat Bhutto Airport (BNB) (Sukkur) and (iv) Nawabshah Airport (WNS).

    Following the expiry of the leases related to the above airports, the Pakistan Civil Aviation (CAA) has floated a joint-tender inviting participants to bid for the operations of six airports; including all four of the airports currently operated by SPL (listed hereinabove) as well as Skardu International Airport (KDU) and Gwadar International Airport (GDU).

    The company said that after due consideration of a wide range of factors, including legal compliance, financial and commercial consideration, SPL had taken the decision not to participate in the tender.

    SPL is committed to the safe handover of operations to the CAA and/or relevant stakeholder (as appropriate) at the airports at which it is currently operating. The final date of exit from these airports will be communicated after consultation with the CAA.

    “SPL remains committed to continuing its other businesses and operations in Pakistan, which remain unaffected,” the company added.

  • Petroleum dealers call off strike on successful talks

    Petroleum dealers call off strike on successful talks

    ISLAMABAD: The talks between the government and Pakistan Petroleum Dealers Association ended in a success which has led to the strike being called off.

    “The talks between the government and petroleum dealers association have led to the strike being called off,” Hammad Azhar, Minister of Energy said in a Tweet on Thursday night.

    Earlier, the petroleum dealers association observed a shutdown strike on Thursday for raising profit margin on sale of petroleum products.

    Most of the fuel pumps were remained closed during the day. Even those pumps owned by Oil Marketing Companies (OMCs) which announced to open their outlets, were also closed for the shortage of stock.

    The energy minister in his Tweet said that the government will notify 0.99 paisa increase in their margins after due approval from the cabinet as per the existing summary. “After six months we will move to % (per cent) system up to 4.4 per cent margin,” he added.

    Earlier, PPDA Chairman Abdul Sami Khan said petroleum dealers had been in a difficult position due to the high cost of business and low margins. He said that the government guarantees a margin of only 2 per cent on sales of fuel oil in the face of rising electricity tariffs.

    “We demand the government to cancel our petrol pumps licenses,” he said, adding that nearly 50 per cent of the petrol pumps will close down permanently with license cancellation as no one will reapply for acquisition.

    “Immediate increase on ex-depot price in dealers’ margin for HSD and MS without burdening common people and without increasing prices of petroleum products, absorbing dealers’ margin increase by reducing Sales Tax and PDL,” he demanded.

    A day earlier, Gas & Oil Pakistan Company Limited (GO), with the largest retail outlet network of 1,000 outlets in the private sector and the largest network of company-owned, company-operated (COCO) outlets in Pakistan assured the customers that all its outlets would remain open and continue to function normally.

    “GO remains firm in its commitment to fulfilling the fueling needs of the nation come what may,” the company said in a tweet.

    Shell Pakistan also announced to open its outlet to serve the nation. “Shell Pakistan announces that they will not participate in the strike on November 25, 2021,” according to the company. All the company-operated retail stations will be opened to serve the customers, it added.

    Hascol, another OMC, assured that all its owned and company-operated (COCO) stations, including all service stations on the M2 Lahore-Islamabad Motorway will remain open and ready to serve them as per routine.

    Pakistan State Oil (PSO) also showed its commitment that all COCO stations will remain open nationwide and continue to function normally. “PSO is committed to serving the nation during such challenging time,” it said.

    OMCs shun petroleum dealers strike, to open outlets
  • OMCs shun petroleum dealers strike, to open outlets

    OMCs shun petroleum dealers strike, to open outlets

    ISLAMABAD: Leading Oil Marketing Companies (OMCs) have announced to open their outlets across the country on November 25, 2021, in order to ensure facilitating consumers.

    A shutdown strike has been called by the Petroleum Dealers Association on November 25, 2021.

    Gas & Oil Pakistan Company Limited (GO), with the largest retail outlet network of 1,000 outlets in the private sector and the largest network of company-owned, company operated (COCO) outlets in Pakistan assured the customers that all its outlets would remain open and continue to function normally.

    “GO remains firm in its commitment to fulfilling the fueling needs of the nation come what may,” the company said in a tweet.

    Shell Pakistan also announced to open its outlet to serve the nation. “Shell Pakistan announces that they will not participate in the strike on November 25, 2021,” according to the company. All the company-operated retail stations will be opened to serve the customers, it added.

    Hascol, another OMC, assured that all its owned and company-operated (COCO) stations, including all service stations on the M2 Lahore-Islamabad Motorway will remain open and ready to serve them as per routine.

    Pakistan State Oil (PSO) also showed its commitment that all COCO stations will remain open nationwide and continue to function normally. “PSO is committed to serving the nation during such challenging time,” it said.

    Petroleum prices kept unchanged for next fortnight
  • Shell Pakistan declares 81 percent decline in net profit

    Shell Pakistan declares 81 percent decline in net profit

    Shell Pakistan Limited announced a significant 81% decline in its profit after tax, as revealed by the company’s financial results for the quarter ended March 2019, approved by the board of directors in their meeting held on Tuesday.

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