Saudi Aramco, a prominent global energy and chemicals enterprise, has advanced its international retail expansion by finalizing the purchase of a 40% equity interest in Gas & Oil Pakistan Ltd. (GO).
This milestone was officially disclosed by the oil giant on its corporate website. GO operates as a diversified downstream fuels, lubricants, and retail store operator in Pakistan, boasting a network exceeding 1,200 retail fuel stations.
Initially unveiled in December 2023, this acquisition marks Aramco’s inaugural downstream retail investment in Pakistan, underscoring the company's escalating retail footprint in lucrative markets. In a separate transaction, Aramco also secured complete ownership of Esmax Distribución SpA (“Esmax”), a prominent diversified downstream fuels and lubricants retailer in Chile.
Yasser Mufti, Aramco’s Executive Vice President of Products & Customers, emphasized the significance of this expansion, stating, “Our global retail expansion is gathering momentum, and this acquisition represents a pivotal advancement in our journey. Through our strategic alliance with GO, we eagerly anticipate delivering Aramco’s superior products and services to esteemed customers in Pakistan.”
