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Shell Pakistan Reports Impressive Nine-Month Financial Results for 2023

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On October 18th, 2023, the Board of Directors of Shell Pakistan Limited (SPL) revealed the company’s nine-month financial performance. SPL achieved a notable profit after tax of PKR 6,450 million for the period ending on September 30, 2023, in stark contrast to the PKR 2,864 million profit after tax recorded during the same period the previous year.

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Additionally, SPL announced an interim cash dividend for the quarter and the nine months concluding on September 30, 2023. These results were influenced by a one-off technical service fee relief received from Shell International Petroleum Company. The company’s unwavering commitment to business performance, safety, and environmental protection remains steadfast.

Notably, SPL was acknowledged by OGRA for its outstanding efforts in promoting refueling safety among two and three-wheelers, an initiative pioneered by the company. During this period, SPL’s Mobility business introduced 19 new retail sites. Furthermore, SPL introduced the “Voice of Customer” program, allowing customers to provide real-time feedback through QR codes placed at sites, with over 30,000 responses received to date, providing valuable insights for continuous improvement.

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Furthermore, the company initiated two eco-friendly and sustainable solutions on plastic reusability. By recycling discarded Shell lubricant bottles, SPL constructed a plastic infused road, 730 feet long and 60 feet wide, on which Shell House is located in Karachi. This is a purpose-built solution which benefits neighbouring residents, schools, church community and Shell. The initiative was covered widely by media. The other initiative is collaboration with Shell Tameer alumni, Concept Loop, a tech-based startup converting plastic waste into building materials that deployed pavers at a Shell retail site in Karachi. This successful initiative can be replicated at other retail sites planned for renovation and construction.

In addition, SPL worked with local farmers in collaboration with National Rural Support Programme (NRSP), to transform agricultural waste into valuable biochar – a product that can potentially improve soil health. Through this project, the soil characteristics substantially improved which led to an increase in land yield by a significant 50 percent, indicating biochar technology as an opportunity to reduce emissions associated with agricultural waste burning.

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SPL remains committed to operational excellence, safety performance, to further strengthen its financial position, and play a responsible role in society.

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