Aramco completes buy of 40% stake in Gas & Oil Pakistan
03 June 2024
Published in: Offshore
Saudi oil and gas company Aramco has concluded the acquisition of a 40% stake in Gas & Oil Pakistan (GO), marking an expansion of its downstream retail operations into Pakistan.
Financial terms of the transaction were not disclosed.
The deal, first announced in December 2023, is also expected to unlock new opportunities for growth and value creation within the sector, according to a statement from the Saudi energy giant.
GO, a diversified downstream operator, boasts a network of more than 1,200 retail fuel stations across Pakistan.
The acquisition forms part Aramco’s goal of enhancing its retail presence in high-value markets and follows its 100% equity stake purchase in Esmax Distribución (Esmax) from Southern Cross Group in March.
