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

Saudi Arabian Oil Co. (Saudi Aramco) completed the acquisition of a 40% stake in Gas & Oil Pakistan Ltd. (GO).

In a statement, Saudi Aramco said the acquisition represents its downstream retail investment in Pakistan and signals the company’s growing retail presence in high-value markets.

GO is a diversified downstream fuels, lubricants and retail store operator in Pakistan with a network of more than 1,200 retail fuel stations.

Yasser Mufti, Aramco 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. 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," Mufti noted.

In December 2023, Saudi Aramco signed definitive agreements to acquire a 40% stake in GO, according to data available with Argaam.