Saudi Aramco completes acquisition of 40% stake in GO Pakistan

By Shilpa Annie Joseph, Official Reporter
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Aramco completes acquisition of GO Pakistan
Officials duirng the signing ceremony | Aramco

Aramco, one of the world’s leading integrated energy and chemicals companies, has completed the acquisition of a 40 percent equity stake in Gas & Oil Pakistan Ltd. (GO).

The acquisition, first announced in December 2023, represents Aramco’s first Downstream retail investment in Pakistan and signals the Company’s growing retail presence in high-value markets.

The company said that this move made further progress in its global retail expansion. Further, this strategic partnership aims to unlock new opportunities for value creation and growth.

Yasser Mufti, Aramco Executive Vice President of Products and Customers, said that, “Our global retail expansion is gaining pace and this acquisition is an important next step on our journey. Through our strategic partnership with GO, we look forward to supplying Aramco’s high-quality products and services to valued customers in Pakistan.”

“We are also delighted to welcome another high-caliber addition to Aramco’s growing network of global partners, and look forward to combining our resources and expertise to unlock new opportunities and further grow the Aramco brand overseas,” Mufti further added.

In March, Aramco also acquired a 100 percent equity stake in Esmax Distribución SpA (Esmax), a leading diversified downstream fuels and lubricants retailer in Chile.

GO Pakistan

GO is a diversified downstream fuels, lubricants, and retail store operator in Pakistan with a network of more than 1,200 retail fuel stations. GO was launched by experienced oil and gas sector entrepreneurs who have over 40 years of experience in the downstream petroleum business. All key members of the company management have considerable prior experience in oil marketing and trading in domestic and international markets.

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