Shell Pakistan Ltd (SPL) posted a profit-after-tax of Rs5.8 billion during 2023 compared to a loss of Rs72 million in 2022. In October 2023, Shell Petroleum Company Ltd signed an agreement to sell its 77.42pc majority interest in SPL to Wafi Energy LLC. The completion of the transaction is subject to requisite regulatory approvals, completion of legal requirements and satisfaction of other closing formalities.