Aramco, one of the world’s leading integrated energy and chemicals companies, has taken another significant step in its global retail expansion by finalizing the acquisition of a 40% equity stake in Gas & Oil Pakistan Ltd. (“GO”).
GO operates as a diversified downstream fuels, lubricants, and retail store operator in Pakistan, boasting a network of over 1,200 retail fuel stations. The acquisition, initially announced in December 2023, marks Aramco’s inaugural Downstream retail investment in Pakistan and underscores the Company’s increasing presence in lucrative markets. Earlier in March, Aramco also completed the acquisition of a 100% equity stake in Esmax Distribución SpA (“Esmax”), a prominent diversified downstream fuels and lubricants retailer based in Chile.
Yasser Mufti, Aramco’s Executive Vice President of Products & Customers, commented, “Our global retail expansion is making significant strides, and this acquisition marks a crucial milestone in our journey. Through our strategic collaboration with GO, we are eager to provide Aramco’s top-quality products and services to esteemed customers in Pakistan. We warmly welcome GO as another esteemed addition to Aramco’s expanding network of global partners and anticipate leveraging our combined resources and expertise to unlock fresh opportunities and further enhance the Aramco brand on an international scale.”
