Shell Petroleum Company Plans to Exit Pakistan Company today news


Shell Petroleum Company Plans to Exit Pakistan Company

Shell Petroleum Company Plans to Exit Pakistan Company

According to Shell Pakistan Limited (SPL), it will no longer maintain its aircraft operations throughout Pakistan. In a statement made public, the business informed the Pakistan Stock Exchange (PSX) that its aviation-related operations take place at a number of airports, including Jinnah International Airport, Quetta International Airport, Begum Nusrat Bhutto Airport in Sukkur, and Nawabshah Airport.

The Pakistan Civil Aviation Authority (CAA) has issued an invitation for bids for the operation of six airports, including the four that SPL presently manages as well as Skardu International Airport and Gwadar International Airport, when the leases for these airports expire. SPL has decided not to take part in the tender after carefully weighing the legal, financial, and commercial aspects.

At the airports it now manages, SPL has emphasized its dedication to ensuring a secure turnover of operations to the CAA and other stakeholders. The CAA will be consulted to decide the precise leaving date.

SPL promised that although ceasing aviation operations, it is still committed to its other businesses and operations in Pakistan, which will carry on as usual. Due to the Eid vacations, SPL’s sales increased during the first part of the month, but the rainy season and less interprovincial transportation activity resulted in lower high-speed diesel (HSD) sales. Additionally, compared to the previous month, Pakistan’s oil sales fell 26% in July 2022, reaching their lowest level since February 2021.

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