Aramco Diversifies Downstream Footprint in Pakistan with 40% Stake in GO

Aramco Diversifies Downstream Footprint in Pakistan with 40% Stake in GO

By Press Release 03 June 2024

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

GO is a diversified downstream fuels, lubricants and retail store operator in Pakistan with a network of more than 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 a 100% equity stake in Esmax Distribución SpA (“Esmax”), a leading diversified downstream fuels and lubricants retailer in Chile.

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.”

---

Send us your press releases to shareyournews@lucidityinsights.com

Related Report

MENA's M&A

The Middle East & North Africa’s M&A Landscape 2017-2022

A five year review of the 2,911 M&A transactions executed across MENA region, amounting to over $276 billion in transaction value across the top 5 markets: Israel, United Arab Emirates, Egypt, Kingdom of Saudi Arabia, and Kuwait.

Subscribe To Our Newsletter

Stay up to date with the latest news, special reports, videos, infobytes, and features on the region's most notable entrepreneurial ecosystems