Aramco studies potential bid to for Shell’s Pakistan assets

Saudi Aramco is studying a potential bid for Shell Plc’s assets in Pakistan, marking its first venture into the South Asian nation’s energy sector, according to Bloomberg citing sources familiar with the matter on Friday.

The Saudi oil giant is considering Shell assets including Karachi-listed Shell Pakistan Ltd which holds a market value of $123 million, said the people, who asked not to be identified as the information is private.

While the exact value of the potential transaction remains undisclosed, insiders suggest that the assets under consideration could be valued at around $200 million, reported Bloomberg.

It is worth mentioning that Shell’s decision aligns with its broader corporate strategy under CEO Wael Sawan to increase returns to shareholders and divest from underperforming businesses.