Shell Pakistan (SPL) announced Wednesday that its parent company, Shell Petroleum Company, would be exiting the South Asian nation after 75 years. It would sell its 77 per cent shareholding in the local business, which suffered massive losses in 2022 due to devaluation in the Pakistani rupee, exchange rates, overdue receivables and the ongoing economic crisis in Pakistan, Reuters reported.

British oil giant Shell dumps Pakistan after suffering massive losses in 2022

Oil and gas giant Shell has reported its highest ever annual profits after energy prices surged last year following Russia's invasion of Ukraine. Profits hit the highest in its 115-year history. WION brings you more insights.

Shell reports highest profit in 115 years

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British oil giant Shell dumps Pakistan after suffering massive losses in 2022

Shell reports highest profit in 115 years