Aramco is finalizing the acquisition of 40% of shares in Gas & Oil Pakistan

Saudi oil giant Aramco said it 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 operator of fuels, lubricants and downstream retail stores in Pakistan, with a network of over 1,200 retail fuel stations, Aramco said in a statement on Friday.

She added that 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,” the statement said.

In this regard, Yasser Mufti, Aramco’s executive vice president for products and customers, said: “Our global retail expansion is gaining momentum and this acquisition is an important next step in 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 grow the Aramco brand abroad.”