{"id":82777,"date":"2023-06-15T11:00:55","date_gmt":"2023-06-15T06:00:55","guid":{"rendered":"https:\/\/pni.net.pk\/en\/?p=82777"},"modified":"2023-06-15T02:53:57","modified_gmt":"2023-06-14T21:53:57","slug":"shell-petroleum-announces-to-exit-from-pakistan","status":"publish","type":"post","link":"https:\/\/pni.net.pk\/en\/latest-business-news\/shell-petroleum-announces-to-exit-from-pakistan\/","title":{"rendered":"Shell petroleum announces to exit from Pakistan"},"content":{"rendered":"

ISLAMABAD 14 June (Online): Shell Petroleum Company (SPCo) had announced to sell their shares in business from Pakistan, said Shell Pakistan on Wednesday.<\/p>\n

The immediate parent company (SPCo) owns 77 percent of their local shares and they suffered losses in 2022 due to exchange rates, the devaluation of the Pakistan rupee, and overdue receivables
\nIn meeting of its board held on June 14, 2023, have notified SPCo of its intent to sell its shareholders in SPL, told SPL in notice to Pakistan Stock Exchange.<\/p>\n

It is unclear how much of its stake SPCo is selling.
\n\u201cThis announcement does not impact SPL\u2019s current business operations, which continue,\u201d the notice said.<\/p>\n

In a separate press release, SPL said that any sale would be \u201csubject to a targeted sales process, the execution of binding documentation and the receipt of applicable regulatory approvals\u201d.
\n\u201cShell is seeing strong interest from international buyers,\u201d the press release said.<\/p>\n

In March, SPL had reported that its net loss for the year ending on Dec 31, 2022, remained Rs72.3 million versus a profit of Rs4.4 billion in 2021.<\/p>\n

The drop in the bottom line was in contrast with the company\u2019s sales, which rose 48.2pc year-on-year to Rs418.6bn in 2022.
\nA press statement said the company increased its footprint in the year under review and commissioned 31 retail stations, 28 Generation-5 Select outlets and 25 new car wash facilities with tyre care.<\/p>\n

There was no final cash dividend, even though the interim cash dividend for the first nine months of 2022 was Rs3 a share.<\/p>\n","protected":false},"excerpt":{"rendered":"

ISLAMABAD 14 June (Online): Shell Petroleum Company (SPCo) had announced to sell their shares in business from Pakistan, said Shell Pakistan on Wednesday. The immediate parent company (SPCo) owns 77 percent of their local shares and they suffered losses in 2022 due to exchange rates, […]<\/p>\n

\n","protected":false},"author":2,"featured_media":82778,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-82777","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-business-news"],"yoast_head":"\nShell petroleum announces to exit from Pakistan<\/title>\n<meta name=\"description\" content=\"Shell petroleum announces to exit from Pakistan\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pni.net.pk\/en\/latest-business-news\/shell-petroleum-announces-to-exit-from-pakistan\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Shell petroleum announces to exit from Pakistan\" \/>\n<meta name=\"twitter:description\" content=\"Shell petroleum announces to exit from Pakistan\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/pni.net.pk\/en\/wp-content\/uploads\/2023\/06\/1-213.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Desk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/pni.net.pk\/en\/latest-business-news\/shell-petroleum-announces-to-exit-from-pakistan\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/pni.net.pk\/en\/latest-business-news\/shell-petroleum-announces-to-exit-from-pakistan\/\"},\"author\":{\"name\":\"News Desk\",\"@id\":\"https:\/\/pni.net.pk\/en\/#\/schema\/person\/2b326eefbddc9c3b180116b6f37cce9f\"},\"headline\":\"Shell petroleum announces to exit from Pakistan\",\"datePublished\":\"2023-06-15T06:00:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/pni.net.pk\/en\/latest-business-news\/shell-petroleum-announces-to-exit-from-pakistan\/\"},\"wordCount\":252,\"publisher\":{\"@id\":\"https:\/\/pni.net.pk\/en\/#organization\"},\"image\":{\"@id\":\"https:\/\/pni.net.pk\/en\/latest-business-news\/shell-petroleum-announces-to-exit-from-pakistan\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/pni.net.pk\/en\/wp-content\/uploads\/2023\/06\/1-213.jpg\",\"articleSection\":[\"Business & Economy\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/pni.net.pk\/en\/latest-business-news\/shell-petroleum-announces-to-exit-from-pakistan\/\",\"url\":\"https:\/\/pni.net.pk\/en\/latest-business-news\/shell-petroleum-announces-to-exit-from-pakistan\/\",\"name\":\"Shell petroleum announces to exit from Pakistan\",\"isPartOf\":{\"@id\":\"https:\/\/pni.net.pk\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/pni.net.pk\/en\/latest-business-news\/shell-petroleum-announces-to-exit-from-pakistan\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/pni.net.pk\/en\/latest-business-news\/shell-petroleum-announces-to-exit-from-pakistan\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/pni.net.pk\/en\/wp-content\/uploads\/2023\/06\/1-213.jpg\",\"datePublished\":\"2023-06-15T06:00:55+00:00\",\"description\":\"Shell petroleum announces to exit from Pakistan\",\"breadcrumb\":{\"@id\":\"https:\/\/pni.net.pk\/en\/latest-business-news\/shell-petroleum-announces-to-exit-from-pakistan\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/pni.net.pk\/en\/latest-business-news\/shell-petroleum-announces-to-exit-from-pakistan\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/pni.net.pk\/en\/latest-business-news\/shell-petroleum-announces-to-exit-from-pakistan\/#primaryimage\",\"url\":\"https:\/\/pni.net.pk\/en\/wp-content\/uploads\/2023\/06\/1-213.jpg\",\"contentUrl\":\"https:\/\/pni.net.pk\/en\/wp-content\/uploads\/2023\/06\/1-213.jpg\",\"width\":660,\"height\":360},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/pni.net.pk\/en\/latest-business-news\/shell-petroleum-announces-to-exit-from-pakistan\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/pni.net.pk\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Shell petroleum announces to exit from Pakistan\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/pni.net.pk\/en\/#website\",\"url\":\"https:\/\/pni.net.pk\/en\/\",\"name\":\"Pakistan News International\",\"description\":\"Latest News, Breaking News from Pakistan\",\"publisher\":{\"@id\":\"https:\/\/pni.net.pk\/en\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/pni.net.pk\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/pni.net.pk\/en\/#organization\",\"name\":\"Pakistan News International\",\"url\":\"https:\/\/pni.net.pk\/en\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/pni.net.pk\/en\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/pni.net.pk\/en\/wp-content\/uploads\/2021\/12\/site-logo.jpg\",\"contentUrl\":\"https:\/\/pni.net.pk\/en\/wp-content\/uploads\/2021\/12\/site-logo.jpg\",\"width\":431,\"height\":121,\"caption\":\"Pakistan News International\"},\"image\":{\"@id\":\"https:\/\/pni.net.pk\/en\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/pni.net.pk\/en\/#\/schema\/person\/2b326eefbddc9c3b180116b6f37cce9f\",\"name\":\"News Desk\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/pni.net.pk\/en\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/34e9ad84679b4a782d4fff9ca3763ebbd7e2cb1b0bb77b91492bba01714a2b4f?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/34e9ad84679b4a782d4fff9ca3763ebbd7e2cb1b0bb77b91492bba01714a2b4f?s=96&d=mm&r=g\",\"caption\":\"News Desk\"},\"url\":\"https:\/\/pni.net.pk\/en\/author\/zafarmalik\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Shell petroleum announces to exit from Pakistan","description":"Shell petroleum announces to exit from Pakistan","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/pni.net.pk\/en\/latest-business-news\/shell-petroleum-announces-to-exit-from-pakistan\/","twitter_card":"summary_large_image","twitter_title":"Shell petroleum announces to exit from Pakistan","twitter_description":"Shell petroleum announces to exit from Pakistan","twitter_image":"https:\/\/pni.net.pk\/en\/wp-content\/uploads\/2023\/06\/1-213.jpg","twitter_misc":{"Written by":"News Desk","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/pni.net.pk\/en\/latest-business-news\/shell-petroleum-announces-to-exit-from-pakistan\/#article","isPartOf":{"@id":"https:\/\/pni.net.pk\/en\/latest-business-news\/shell-petroleum-announces-to-exit-from-pakistan\/"},"author":{"name":"News Desk","@id":"https:\/\/pni.net.pk\/en\/#\/schema\/person\/2b326eefbddc9c3b180116b6f37cce9f"},"headline":"Shell petroleum announces to exit from Pakistan","datePublished":"2023-06-15T06:00:55+00:00","mainEntityOfPage":{"@id":"https:\/\/pni.net.pk\/en\/latest-business-news\/shell-petroleum-announces-to-exit-from-pakistan\/"},"wordCount":252,"publisher":{"@id":"https:\/\/pni.net.pk\/en\/#organization"},"image":{"@id":"https:\/\/pni.net.pk\/en\/latest-business-news\/shell-petroleum-announces-to-exit-from-pakistan\/#primaryimage"},"thumbnailUrl":"https:\/\/pni.net.pk\/en\/wp-content\/uploads\/2023\/06\/1-213.jpg","articleSection":["Business & Economy"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/pni.net.pk\/en\/latest-business-news\/shell-petroleum-announces-to-exit-from-pakistan\/","url":"https:\/\/pni.net.pk\/en\/latest-business-news\/shell-petroleum-announces-to-exit-from-pakistan\/","name":"Shell petroleum announces to exit from Pakistan","isPartOf":{"@id":"https:\/\/pni.net.pk\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/pni.net.pk\/en\/latest-business-news\/shell-petroleum-announces-to-exit-from-pakistan\/#primaryimage"},"image":{"@id":"https:\/\/pni.net.pk\/en\/latest-business-news\/shell-petroleum-announces-to-exit-from-pakistan\/#primaryimage"},"thumbnailUrl":"https:\/\/pni.net.pk\/en\/wp-content\/uploads\/2023\/06\/1-213.jpg","datePublished":"2023-06-15T06:00:55+00:00","description":"Shell petroleum announces to exit from Pakistan","breadcrumb":{"@id":"https:\/\/pni.net.pk\/en\/latest-business-news\/shell-petroleum-announces-to-exit-from-pakistan\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/pni.net.pk\/en\/latest-business-news\/shell-petroleum-announces-to-exit-from-pakistan\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/pni.net.pk\/en\/latest-business-news\/shell-petroleum-announces-to-exit-from-pakistan\/#primaryimage","url":"https:\/\/pni.net.pk\/en\/wp-content\/uploads\/2023\/06\/1-213.jpg","contentUrl":"https:\/\/pni.net.pk\/en\/wp-content\/uploads\/2023\/06\/1-213.jpg","width":660,"height":360},{"@type":"BreadcrumbList","@id":"https:\/\/pni.net.pk\/en\/latest-business-news\/shell-petroleum-announces-to-exit-from-pakistan\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/pni.net.pk\/en\/"},{"@type":"ListItem","position":2,"name":"Shell petroleum announces to exit from Pakistan"}]},{"@type":"WebSite","@id":"https:\/\/pni.net.pk\/en\/#website","url":"https:\/\/pni.net.pk\/en\/","name":"Pakistan News International","description":"Latest News, Breaking News from Pakistan","publisher":{"@id":"https:\/\/pni.net.pk\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/pni.net.pk\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/pni.net.pk\/en\/#organization","name":"Pakistan News International","url":"https:\/\/pni.net.pk\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/pni.net.pk\/en\/#\/schema\/logo\/image\/","url":"https:\/\/pni.net.pk\/en\/wp-content\/uploads\/2021\/12\/site-logo.jpg","contentUrl":"https:\/\/pni.net.pk\/en\/wp-content\/uploads\/2021\/12\/site-logo.jpg","width":431,"height":121,"caption":"Pakistan News International"},"image":{"@id":"https:\/\/pni.net.pk\/en\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/pni.net.pk\/en\/#\/schema\/person\/2b326eefbddc9c3b180116b6f37cce9f","name":"News Desk","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/pni.net.pk\/en\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/34e9ad84679b4a782d4fff9ca3763ebbd7e2cb1b0bb77b91492bba01714a2b4f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/34e9ad84679b4a782d4fff9ca3763ebbd7e2cb1b0bb77b91492bba01714a2b4f?s=96&d=mm&r=g","caption":"News Desk"},"url":"https:\/\/pni.net.pk\/en\/author\/zafarmalik\/"}]}},"_links":{"self":[{"href":"https:\/\/pni.net.pk\/en\/wp-json\/wp\/v2\/posts\/82777","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pni.net.pk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pni.net.pk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pni.net.pk\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/pni.net.pk\/en\/wp-json\/wp\/v2\/comments?post=82777"}],"version-history":[{"count":1,"href":"https:\/\/pni.net.pk\/en\/wp-json\/wp\/v2\/posts\/82777\/revisions"}],"predecessor-version":[{"id":82779,"href":"https:\/\/pni.net.pk\/en\/wp-json\/wp\/v2\/posts\/82777\/revisions\/82779"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pni.net.pk\/en\/wp-json\/wp\/v2\/media\/82778"}],"wp:attachment":[{"href":"https:\/\/pni.net.pk\/en\/wp-json\/wp\/v2\/media?parent=82777"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pni.net.pk\/en\/wp-json\/wp\/v2\/categories?post=82777"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pni.net.pk\/en\/wp-json\/wp\/v2\/tags?post=82777"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}