In a significant development, the Competition Commission of Pakistan (CCP) has greenlighted Saudi Aramco’s acquisition of a 40% equity stake in Gas & Oil Pakistan Ltd (GO), marking the Saudi oil giant’s debut in Pakistan’s fuels retail market.
The approval came after Aramco Asia Singapore Pte Ltd, a subsidiary of Saudi Aramco, submitted a pre-merger application with the CCP. Aramco Asia Singapore Pte Ltd specializes in various aspects of the oil and gas industry, including sales, marketing, procurement, logistics, and related services.
On the other hand, Gas & Oil Pakistan Ltd (GO) is engaged in the procurement, storage, sale, and marketing of petroleum products and lubricants. The company boasts significant storage capacity, possesses high-quality assets, and demonstrates promising growth potential, making it an ideal platform for introducing the Aramco brand in Pakistan.
This strategic move by Saudi Aramco marks its maiden venture into Pakistan’s fuels retail market, signaling potential growth opportunities and further diversification in the country’s energy sector.
