Saudi Aramco Completes Acquisition of 40% Stake in Gas & Oil Pakistan

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

GO is a diversified downstream fuel, lubricant and retail store operator in Pakistan with a network of more than 1,200 retail gas stations. The acquisition, first announced in December 2023, is Aramco’s first downstream retail investment in Pakistan and marks the company’s growing retail presence in high-value markets. In March, Aramco also acquired 100% of Esmax Distribución SpA (Esmax), a leading diversified downstream fuel and lubricant retailer in Chile.

Yasser Mufti, Executive Vice President of Products and Customers at Saudi Aramco, said: "Our global retail expansion is accelerating and this acquisition is an important next step in our journey. Through our strategic partnership with GO, we look forward to providing Saudi Aramco's premium products and services to our valued customers in Pakistan. We are also pleased to welcome another highly qualified individual to Saudi Aramco's growing global partner network and look forward to combining our resources and expertise to identify new opportunities to further grow the Saudi Aramco brand overseas."