Aramco Expands Footprint in Pakistan with Acquisition of 40% Stake in Gas & Oil

By Editor


Aramco, the global energy giant, has inked agreements to acquire 40% equity share in Gas & Oil Pakistan (GO) in a strategic move to bolster its international downstream presence.

Aramco did not reveal financial details of the deal.

This marks Aramco’s foray into Pakistan’s fuels retail market and underscores its commitment to fortify its downstream value chain on a global scale.

GO, renowned for its operations encompassing downstream fuels, lubricants, and convenience stores, stands tall as one of Pakistan’s premier retail and storage entities. The agreement, subject to customary conditions and regulatory approvals, solidifies Aramco’s strategic intentions to tap into burgeoning markets and leverage synergies across diverse segments.

“Our retail acquisition aligns with Aramco’s downstream expansion strategy. GO’s storage capacity, top-tier assets, and promising growth trajectory present an exceptional opportunity to introduce the Aramco brand prominently in Pakistan,” Mohammed Y. Al Qahtani, Aramco’s Downstream President, said.

This move follows Aramco’s earlier milestone, the acquisition of Valvoline Inc.’s global products business in February 2023.

The integration of GO into Aramco’s portfolio is poised to fortify the distribution network for refined products while opening new avenues for Valvoline-branded lubricants in the burgeoning Pakistani market.

Photo caption:

Aramco Executive Vice President of Products & Customers, Yasser Mufti, sitting right, signs the agreement with GO founder & CEO Khalid Riaz, sitting left. Standing, from left: Aramco International Retail Director Nader Douhan, Aramco Vice President of Retail Ziyad Juraifani, GO Chairman Tariq Kirmani, Aramco Downstream President Mohammed Y. Al Qahtani and GO Chief Operating Officer Zeeshan Tayyeb

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