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  • Aramco to acquire a 40% stake in Gas & Oil Pakistan
    édité le 13/12/2023 - Plus de news de "ARAMCO" - Voir la fiche entreprise de "ARAMCO"


Aramco to acquire a 40% stake in Gas & Oil Pakistan
Aramco, one of the world’s leading integrated energy and chemicals companies, today signed definitive agreements to acquire a 40% equity stake in Gas & Oil Pakistan Ltd. (“GO”).

GO, a diversified downstream fuels, lubricants and convenience stores operator, is one of the largest retail and storage companies in Pakistan. The transaction is subject to certain customary conditions, including regulatory approvals.

The planned acquisition is Aramco’s first entry into the Pakistani fuels retail market, advancing the Company’s strategy to strengthen its downstream value chain internationally.

This transaction would enable Aramco to secure additional outlets for its refined products and further provide new market opportunities for Valvoline-branded lubricants, following Aramco’s acquisition of the Valvoline Inc. global products business in February 2023.

Mohammed Y. Al Qahtani, Aramco Downstream President, said: “Our second planned retail acquisition this year aligns with Aramco’s downstream expansion strategy, with a clear path ahead for growing an integrated refining, marketing, lubricants, trading and chemicals portfolio worldwide. GO has a significant storage capacity, high-quality assets and growth potential, which will help launch the Aramco brand in Pakistan.”

About Aramco

Aramco is a global integrated energy and chemicals company. We are driven by our core belief that energy is opportunity. From producing approximately one in every eight barrels of the world’s oil supply to developing new energy technologies, our global team is dedicated to creating impact in all that we do. We focus on making our resources more dependable, more sustainable and more useful. This helps promote stability and long-term growth around the world.

About Gas & Oil Pakistan Ltd. (GO)

Gas & Oil Pakistan Ltd. (GO) was launched by experienced Oil & Gas sector entrepreneurs who have over 40 years experience in the downstream petroleum business.
All key members of the company management have considerable prior experience in oil marketing & trading in domestic & international markets


Origine : Communiqué ARAMCO

Voir la fiche entreprise de "ARAMCO"



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