Saudi Aramco Acquires 40% Stake in Pakistan Gas, Oil Company

The Saudi Arabian Oil Company (Saudi Aramco) announced the completion of the acquisition of a 40% stake in Pakistan Gas and Oil Company Limited (“GO”) to further advance the expansion of its global investment in fuel retail.

Go Company operates in the field of fuel, lubricants and various stores in Pakistan, and owns more than 1,200 retail gas stations.

The acquisition, which was first announced in December 2023, represents Saudi Aramco’s first investment in the field of retail in Pakistan, as it confirms the company’s growing position in the field of retail in high-value markets, as last March (Saudi Aramco) also acquired a 100% ownership stake in ESMAX Distribution (SPE), a leading retailer of diversified fuels and lubricants in Chile.

Yasser Mufti, Executive Vice President of the Business Sector for Products and Customers at Aramco, sees this acquisition as a significant step in Aramco’s global expansion in retail fuel sales.

He looks forward to enhancing Saudi Aramco’s products and services in Pakistan through the strategic partnership with Go company.

He also expressed his happiness at adding another high-level partner to the company’s global network. This partnership will combine resources and expertise to create new opportunities for Saudi company.

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