Aramco to acquire a 40% stake in Gas & Oil Pakistan

Dhahran, Dec. 12 (BNA): Aramco, the global integrated energy and chemicals company, today signed an agreement to acquire a 40% equity stake in Gas & Oil Pakistan Ltd. (GO).

 

According to the Saudi Press Agency (SAP), the planned acquisition is Aramco’s first entry into the Pakistani fuels retail market; it is bound to push forward the company’s strategy of strengthening its downstream value chain internationally.

 

Mohammed Al Qahtani, the 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.”

 

Y.R







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