{"id":960,"date":"2023-12-12T11:03:42","date_gmt":"2023-12-12T11:03:42","guid":{"rendered":"https:\/\/ventil.rs\/blog\/business\/saudi-aramco-to-buy-40-stake-in-major-pakistani-oil-company-the-express-tribune\/"},"modified":"2023-12-12T11:03:42","modified_gmt":"2023-12-12T11:03:42","slug":"saudi-aramco-to-buy-40-stake-in-major-pakistani-oil-company-the-express-tribune","status":"publish","type":"post","link":"https:\/\/ventil.rs\/blog\/business\/saudi-aramco-to-buy-40-stake-in-major-pakistani-oil-company-the-express-tribune\/","title":{"rendered":"Saudi Aramco to buy 40% stake in major Pakistani oil company | The Express Tribune"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"\">\n<strong class=\"location-names\"><br \/>\nKARACHI:<br \/>\n<\/strong><\/p>\n<p>Saudi Arabia\u2019s Aramco Tuesday signed an agreement to acquire a 40% equity stake in a Pakistani gas and oil company, said a statement from the Saudi company.<\/p>\n<p>Aramco Executive Vice President of Products &amp; Customers Yasser Mufti, Chief Executive Officer of Lahore-based Gas &amp; Oil Pakistan Ltd. (GO) Khalid Riaz signed the agreement.<\/p>\n<p>The planned acquisition marks Aramco\u2019s first entry into the Pakistani fuels retail market, advancing the company\u2019s strategy to strengthen its downstream value chain internationally.<\/p>\n<p>This transaction would enable Aramco, one of the world\u2019s leading integrated energy and chemicals companies, to secure additional outlets for its refined products and further provide new market opportunities for Valvoline-branded lubricants, following Aramco\u2019s acquisition of the Valvoline Inc. global products business in February 2023.<\/p>\n<p><strong>Read also: <a rel=\"nofollow noopener\" href=\"https:\/\/tribune.com.pk\/story\/2444224\/saudi-firm-acquires-majority-stake-in-shell-pakistan\" target=\"_blank\">Saudi firm acquires majority stake in Shell Pakistan<\/a><\/strong><\/p>\n<p>\u201cOur second planned retail acquisition this year aligns with Aramco\u2019s downstream expansion strategy, with a clear path ahead for growing an integrated refining, marketing, lubricants, trading and chemicals portfolio worldwide,\u201d said Mohammed Y. Al Qahtani, Aramco\u2019s downstream president.<\/p>\n<p>GO has a significant storage capacity, high-quality assets and growth potential, which will help launch the Aramco brand in Pakistan, he added.<\/p>\n<p>GO, a diversified downstream fuels, lubricants and convenience stores operator, is one of the largest retail and storage companies in Pakistan.<\/p>\n<\/div>\n<p><script async defer crossorigin=\"anonymous\" src=\"https:\/\/connect.facebook.net\/en_US\/sdk.js#xfbml=1&#038;version=v5.0&#038;appId=419051588770002&#038;autoLogAppEvents=1\"><\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/tribune.com.pk\/story\/2449818\/saudi-aramco-to-buy-40-stake-in-major-pakistani-oil-company\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>KARACHI: Saudi Arabia\u2019s Aramco Tuesday signed an agreement to acquire a 40% equity stake in a Pakistani gas and oil company, said a statement from the Saudi company. Aramco Executive Vice President of Products &amp; Customers Yasser Mufti, Chief Executive Officer of Lahore-based Gas &amp; Oil Pakistan Ltd. (GO) Khalid Riaz signed the agreement. The&#8230;<\/p>\n<p class=\"more-link-wrap\"><a href=\"https:\/\/ventil.rs\/blog\/business\/saudi-aramco-to-buy-40-stake-in-major-pakistani-oil-company-the-express-tribune\/\" class=\"more-link\">Read More<span class=\"screen-reader-text\"> &ldquo;Saudi Aramco to buy 40% stake in major Pakistani oil company | The Express Tribune&rdquo;<\/span> &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":961,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/i.tribune.com.pk\/media\/images\/Saudi-Aramco1702397541-0\/Saudi-Aramco1702397541-0.jpeg","fifu_image_alt":"","footnotes":""},"categories":[3],"tags":[683,682,684,681],"class_list":["post-960","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-acquisition","tag-aramco","tag-oil-gas-sector","tag-saudi-arabia"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.8 (Yoast SEO v22.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Saudi Aramco to buy 40% stake in major Pakistani oil company | The Express Tribune - Breaking News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ventil.rs\/blog\/business\/saudi-aramco-to-buy-40-stake-in-major-pakistani-oil-company-the-express-tribune\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Saudi Aramco to buy 40% stake in major Pakistani oil company | The Express Tribune\" \/>\n<meta property=\"og:description\" content=\"KARACHI: Saudi Arabia\u2019s Aramco Tuesday signed an agreement to acquire a 40% equity stake in a Pakistani gas and oil company, said a statement from the Saudi company. Aramco Executive Vice President of Products &amp; Customers Yasser Mufti, Chief Executive Officer of Lahore-based Gas &amp; Oil Pakistan Ltd. (GO) Khalid Riaz signed the agreement. 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