Shell Pakistan
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The documented history of Royal Dutch Shell plc in Pakistan dates back to 1903 when partnership was struck between The Shell Transport & Trading Company and the Royal Dutch Petroleum Company to supply petroleum to Asia.
In 1928, to enhance their distribution capabilities, the marketing interest of Royal Dutch Shell plc and the Burmah Oil Company Limited in Indiawere merged and Burmah Shell Oil Storage & Distribution company of India was born. After the independence of Pakistan in 1947, the name was changed to the Burmah Shell Oil Distribution Company of Pakistan. In 1970, when 51% of the shareholding was transferred to Pakistani investors, the name of changed to Pakistan Burmah Shell Limited (PBS). The Shell and the Burmah Groups, retained the remaining 49% in equal propositions. In February 1993, as economic liberalisation began to take root and the Burmah divested from PBS, Shell Petroleum stepped into raise its stake to 51%. The years 2001-2 have seen the Shell Petroleum Company successively increasing its share, with the Group now having a 76% stake in Shell Pakistan Limited (SPL).
[edit]Financial results
In 2006/7 the profit after tax of Shell Pakistan Limited plunged by 77 percent compared with the previous year.
Chairman and CEO Shell Pakistan Limited Zaiviji Ismail Bin Abdullah was reported to have said that “the cash flow constraints resulting from overdue government receivables is the greatest challenge faced by the company. The timely recovery of these receivables is paramount to sustaining the viability of this company” The market share of Shell Pakistan Limited dropped to 14 percent from 18 percent in the year . [1]
[edit]See also
[edit]External links
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