Saudi Aramco acquires 40% stake in Gas & Oil Pakistan
Acquisition represents the energy giant's first Downstream retail investment in Pakistan
Dhahran: Saudi Aramco has completed the acquisition of a 40 per cent equity stake in Gas & Oil Pakistan Ltd. (GO).
GO is a diversified downstream fuels, lubricants and retail store operator in Pakistan with a network of more than 1,200 retail fuel stations. The acquisition, first announced in December 2023, represents the energy giant's first Downstream retail investment in Pakistan and signals the company's growing retail presence in high-value markets.
In March, Aramco also acquired a 100 per cent equity stake in Esmax Distribución SpA, a diversified downstream fuels and lubricants retailer in Chile.
Yasser Mufti, Aramco EVP of Products & Customers, said: "Our global retail expansion is gaining pace and this acquisition is an important next step on our journey. Through our strategic partnership with GO, we look forward to supplying Aramco’s high-quality products and services to valued customers in Pakistan."