Aramco, a global leader in energy and chemicals, has announced its plans to acquire a 40% equity stake in Gas & Oil Pakistan, GO.

GO is a well-established company in Pakistan, known for its diversified downstream fuels, lubricants, and convenience stores.

Subject to customary conditions including regulatory approvals, the acquisition marks Aramco’s first entry into the Pakistani fuels retail market, in line with its strategy to strengthen its downstream value chain on an international level as Aramco sated in its press release.

By acquiring GO, Aramco will have access to a larger network of outlets for its refined products. Additionally, this acquisition will open up new market opportunities for Valvoline-branded lubricants, following Aramco’s acquisition of Valvoline Inc.’s global products business in February 2023.

Mohammed Y. Al Qahtani, Aramco Downstream President, expressed his excitement about this acquisition, stating that it aligns with the company’s downstream expansion strategy.

“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,” Al Qahtani said.