Aramco, one of the world’s leading integrated energy and chemical companies, acquired a 40% stake in GO Pakistan, signaling its interest in entering Pakistan’s retail petroleum market. However, recent reports claiming the launch of Aramco-branded retail outlets in Islamabad were debunked as false.
There were widespread rumors online that Aramco had opened its first branded retail petroleum outlet in the capital city, Islamabad. However, these claims were quickly dismissed. Zeeshan Tayyeb, Chief Operating Officer of Gas & Oil Pakistan Ltd (GO), clarified that no Aramco site had been launched anywhere in Pakistan. He added that a formal announcement would be made at the appropriate time, but until then, any circulating images or news were inaccurate.
The misleading reports were based on a picture that was claimed to be from an Aramco site, but GO confirmed that the image was from a different location outside of Pakistan.
Aramco finalized its acquisition of a 40% equity stake in GO Pakistan earlier this year. This acquisition, approved by Pakistan’s Competition Commission, marked Aramco’s first retail investment in Pakistan’s downstream fuel sector, emphasizing the company’s growing global footprint.
GO Pakistan is a well-established player in the country, operating over 1,200 retail fuel stations and offering a diversified portfolio that includes fuels, lubricants, and retail services.
| Company | Stake Acquired by Aramco | Year of Acquisition | Number of GO Retail Stations in Pakistan |
|---|---|---|---|
| GO Pakistan | 40% | 2023 | 1,200+ |
Aramco’s partnership with GO is part of broader efforts to strengthen Saudi Arabia’s business ties with Pakistan. The two nations have signed investment deals worth $21 billion, including plans for an Aramco refinery and a petrochemical complex in Pakistan. This collaboration reflects the deepening economic relations between the two countries.
Yasser Mufti, Aramco’s Executive Vice President, highlighted the significance of the GO acquisition, stating that it aligns with Aramco’s strategy to expand its global retail network while delivering high-quality products to the Pakistani market.
| Investment Projects | Value | Key Components |
|---|---|---|
| Aramco Refinery and Petrochemical Complex | $21 billion | Refinery, petrochemical complex, energy projects |
In conclusion, while Aramco has taken a significant step by acquiring a 40% stake in GO Pakistan, no retail petroleum outlet has been commissioned yet. Both Aramco and GO are committed to expanding their operations in the future, with formal announcements expected soon.
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