State-controlled oil company Saudi Aramco is planning to launch its first branded retail gas station in Pakistan by the end of the current year.
This follows its acquisition of a 40 percent stake in Gas & Oil Pakistan Ltd. (GO) in May, marking Aramco’s first downstream retail investment in the country.
Aramco’s venture in Pakistan comes after its recent acquisition of Esmax Distribución SpA, a fuel and lubricants retailer in Chile, earlier this year.
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. In March, Aramco also acquired a 100% equity stake in Esmax Distribución SpA (“Esmax”), a leading diversified downstream fuels and lubricants retailer in Chile,” the company stated in a press release issued at that time.
In May 2024, Aramco completed the acquisition of a 40 percent equity stake in GO Petroleum to officially enter Pakistan. GO, a leading petroleum company in Pakistan focuses on the procurement, storage, and sale of petroleum products and lubricants.