Aramco acquires a 40% stake in Gas & Oil Pakistan

This is the company’s first entry into the Pakistani fuel retail market as part of its plans to expand its downstream operations.

Aramco has signed definitive agreements to acquire a 40% equity stake in Gas & Oil Pakistan (GOL).

The company is a diversified downstream fuels, lubricants and convenience stores operator, one of the largest retail and storage companies in Pakistan. The transaction is subject to certain customary conditions, including regulatory approvals.

The planned acquisition is Aramco's first entry into the Pakistani fuels retail market, advancing the company's strategy to strengthen its downstream value chain internationally.

"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," said Mohammed Y. Al Qahtani, President of Aramco Downstream.

This transaction would enable Aramco to secure additional outlets for its refined products. In addition, it will further provide new market opportunities for Valvoline-branded lubricants, following the acquisition of the Valvoline global products business in February 2023.