Aramco finalizes acquisition of 40% stake in Gas & Oil Pakistan

• The investment signals further progress in Aramco’s global retail expansion
• Strategic partnerships aim to unlock new opportunities for value creation and growth

Aramco, one of the world’s leading integrated energy and chemical companies, has made further progress in its global retail expansion by completing the acquisition of a 40% stake in Gas & Oil Pakistan Ltd. (“GO”).

GO is a diversified fuel, lubricant and downstream retail operator in Pakistan with a network of over 1,200 retail fuel stations. The acquisition, first announced in December 2023, represents Aramco’s first downstream retail investment in Pakistan and signals the company’s growing retail presence in high-value markets. In March, Aramco also acquired 100% of Esmax Distribución SpA (“Esmax”), a leading diversified downstream fuel and lubricant retailer in Chile.

Yasser Mufti, Aramco executive vice president for products and customers, said: “Our global retail expansion is gaining momentum and this acquisition is an important next step on our journey. Through our strategic partnership with GO, we look forward to providing high-quality Aramco products and services to valued customers in Pakistan. We are also pleased to welcome another high-calibre member of Aramco’s growing network of global partners and look forward to combining our resources and expertise to unlock new opportunities and further develop the Aramco brand abroad.”