Shell Petroleum to sell stake in Pakistan

[koolio]

How these people are sleeping at night knowing they have literally raped the economy from all four sides

They have assets abroad, so before the ship sinks to a point where it can't sail any further PDM and generals will flee to thier cosy mansions abroad.

 

[ACE OF HEARTS]

Telenor is leaving too. Merging with Ufone.

 

[Olympus81]

Dar is doing his economic hitman job very well.

And the military inc doing its best to keep its influence on a country which is becoming very hollow from the inside.

Someone tell them, what corruption will they do when the country is in negative growth.

 

[fitpOsitive]

Inna lillahi wa Inna ilyhi rajioon.
Kia boly banda.

 

[AZADPAKISTAN2009]

Smart people

Business can't be done in country where internet goes down every day
Electricity goes down
Excessive bills
Land Mafia roams free
Your business office can be demolished on whim at will of politician
Jobs can be lost for no internet
Water is sold in trucks because , state can't provide water
Kidnappers coming up in Vigo kidnapping your son or mother or father

But everything is available in Fauji's home


Just go Dubai or Saudi , take funds there. Law abiding society


Story of Asian Tigers

1947-1967 - Ayub Khan's greed
- destroyed formation of Constitution / Ending Fatima Jinah Political Ambition

1967-1971 - Auyub-Yahya greed split Pakistan / Pride of Fauji can't salute Bangali

1977-1987- Zia's greed destroyed Pakistan's educated class forced migration out , and afghan in

2008-2018 - Musharraf's (National Reconciliation Ordinance forgiving Mafia allowing to come back)

2021- Present Bajwa's Ghaddari


Write the truth it can't be digested

 

[Fasbre2]

These Sharifs and Zardaris are destroying the country to consolidate their power. What a mess. Pakistan will remain 3rd world until atleast the end of the century.

They will have to come up with a new term —- 4th World country, of which pak will be the first member…

 

[Trailer23]

Guys I hate the current Govt. and all they stand for.

I blame 'em for everything they've done in the course of this past year, but...

...this whole Shell drama doesn't actually relate to them.

Shell to exit home retail energy businesses in Britain, Germany and the Netherlands

Shell is a sinking ship, just like BP.

 

[maithil]

She'll is used to doing business in challenging circumstances. Things must be very difficult for them to take this decision.

 

[Clutch]

Shell Petroleum to sell stake in Pakistan​

Reuters | Dawn.com Published June 14, 2023 Updated about 2 hours ago

LISTEN TO ARTICLE1x1.2x1.5x
Shell Pakistan said on Wednesday that parent Shell had notified it of the group’s intent to sell its shareholding in the business.
Shell Petroleum Company (SPCo), the immediate parent company, owns 77 per cent of the local operations, which suffered losses in 2022 due to exchange rates, the devaluation of the Pakistani rupee, and overdue receivables.
“… the Board of Directors of Shell Pakistan Limited (SPL), in a meeting of its board held on June 14, 2023, have been notified by SPCo of its intent to sell its shareholding in SPL,” SPL said in a notice to the Pakistan Stock Exchange.
It is unclear how much of its stake SPCo is selling.
“This announcement does not impact SPL’s current business operations, which continue,” the notice said.

https://twitter.com/x/status/1668891715049074688

In a separate press release, SPL said that any sale would be “subject to a targeted sales process, the execution of binding documentation and the receipt of applicable regulatory approvals”.
“Shell is seeing strong interest from international buyers,” the press release said.
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.
The drop in the bottom line was in contrast with the company’s sales, which rose 48.2pc year-on-year to Rs418.6bn in 2022.
A 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.
There was no final cash dividend, even though the interim cash dividend for the first nine months of 2022 was Rs3 a share.
Now you can follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.









Ishaq Dar single handedly destroy the Pak economy, when everyone was telling him to negotiate IMF deal and don't control the dollar artificially , let the market fix the dollar value. But he artificially set the dollar price at 223 which ruined the economy.

Nice. Let the entire corrupt rotten corpse sink ... A new Pakistan will be built upon the failed banana republic of Faujistan

 

[Laozi]

@PakFactor

Dubai is enticing textile mill owners and IT firms to pick up from Pakistan and establish in Dubai.

If Modi trusts his Gujju instincts over his Hindoo ones, he would get them to relocate to India instead. Gujarat is next door and it could give Indian textile industry a boost.

Regards

Pakistani mar jayenge lekin Hindoo desh mein business nahin karenge.

Its hard to convince countries for FDI when the government is really corrupt and inefficient.

China loves investing in countries with corrupt government. China has invested in every country of the world where corrupt leaders has signed the FDI agreements (read Loan against Sovereignty agreement) without reading.

China is already stuck with you guys. Milk it more. Sign more papers blindfold.

 

[MajorMinor]

All thanks to All wise shit generals and their Backed Fake PDM govt

Really? The entire failure is of everyone else? The people who are defying a safety restriction and having fun at the coasts of Karachi while a serious cyclone is coming in? Those who find it insulting to stand in line? Those who steal pens and use personal social media while on jobs and don't think it is anything wrong? None of those rest of the millions have anything to do with the decline??

 

[Kompromat]

Shell must've hired global market intelligence companies to report on the health of the economy before taking such a huge decision.

 

[WarKa DaNG]

They have assets abroad, so before the ship sinks to a point where it can't sail any further PDM and generals will flee to thier cosy mansions abroad.

I know that those people who comes on screen telling that "Dushman ke ghar guss kar marenge" will be the first one to leave the country when things go south but how are they feeding these illegal earned money to their family like giving X amount to their sons/daughters saying here take it and go enjoy it blew this money on some dumb things

 

[Jango]

Guys I hate the current Govt. and all they stand for.

I blame 'em for everything they've done in the course of this past year, but...

...this whole Shell drama doesn't actually relate to them.

Shell to exit home retail energy businesses in Britain, Germany and the Netherlands

Shell is a sinking ship, just like BP.

Shell does not have home retail energy business in Pakistan. The reason for exiting Pakistan is completely different.

Other multinationals in upstream O&G (MOL, POGC, ENI etc.) were also looking to exit when I worked in the industry. The petroleum ministry then practically begged them not to leave and gave them incentives, but in the end it was too much for ENI and they exited (although they had a global repositioning as well I believe), and their Bhit and another gas field (I for some reason have gone totally blank with the name, been so many years) were drying up.

Mol and POGC are also looking to make an exit soon, and we will be left with third grade Chinese companies and PPL and OGDC.

 

[salarsikander]

Really? The entire failure is of everyone else? The people who are defying a safety restriction and having fun at the coasts of Karachi while a serious cyclone is coming in? Those who find it insulting to stand in line? Those who steal pens and use personal social media while on jobs and don't think it is anything wrong? None of those rest of the millions have anything to do with the decline??

no none of those !
Since 58 The Chwokidars have only been plundering and looting - Stealing elections, Looting State resources by Employing themselves in two position at the same time- lost the other part of the country - Supported and nurtured all corrupt parties - which is what they are doing roght now- I pray to Allmighty Allah that his wraths falls upon these Bastards who have brought the country to brink - destroyed the very fabric of society