Riyadh – Mubasher: Saudi Arabian Oil Company (Saudi Aramco) completed the acquisition of a 40% stake in Gas and Oil Pakistan Limited (GO), according to a press release.
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, which was first announced in December 2023, marks Aramco’s first Downstream retail investment in Pakistan and signals the company’s growing retail presence in high-value markets.
Yasser Mufti, Aramco’s Executive Vice President 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,” Mufti added.
He noted: “We are also delighted to welcome another high-caliber addition to Aramco’s growing network of global partners, and look forward to combining our resources and expertise to unlock new opportunities and further grow the Aramco brand overseas.”
In March, Aramco fully acquired Esmax Distribución SpA, a leading diversified downstream fuels and lubricants retailer in Chile.
Saudi Aramco recently inked contracts at an aggregated value of SAR 2.95 billion with Tadawul-listed companies for manufacturing and supply of steel pipes.
