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Shell Pakistan Reports a Loss of Rs. 4.82 Billion in 2020

Shell Pakistan Limited has announced financial results for the year ended December 31st, 2020.

The company posted a loss after tax of Rs. 4.821 billion for 2020 compared to the loss of Rs. 1.485 billion in 2019. The losses have increased by 225.68 percent as compared to 2019.

According to a statement released by the company, the second half of 2020 saw a significant recovery with a profit after tax compared to a tough first half of the year primarily affected by the global pandemic resulting in declining fuels market and volatility in the international oil prices.

The company reported a 17.32 percent decrease in net sales as they were reported at Rs. 165.13 billion as compared to Rs. 199.71 billion.


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“Shell Pakistan recognizes the government’s initiative to switch the frequency of petroleum pricing of the country from monthly to fortnightly, and basing the same on the Arab Gulf Mean oil prices published in Platts Oilgram. This ensures fair competition and the alignment of fuel prices with international pricing trends, smoothing out any volatility caused by the legacy pricing mechanism,” stated the company in a press release.

Also, the government upgraded the fuel grade to Euro-V standards from Euro-II standards, which were introduced in 2016-17. This will pave the way for cleaner air quality in Pakistan due to lower motor vehicle emissions, said the company.

Shell also decided to issue the right shares to ensure a healthy financial and cash position, to meet working capital requirements, and to enhance shareholders’ value. The rights process is expected to be completed by Q1 2021.

The company reported a loss per share of Rs. 45.05 compared to a loss per share of Rs. 13.88.

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