Aramco, which is a big company dealing with energy and chemicals globally, has decided to buy 40% of Gas & Oil Pakistan Ltd. (GO). GO is a significant player in Pakistan, and they are involved in selling fuels like petrol and diesel, lubricants, and also manage convenience stores.
Currently, GO has a network of more than 1,100 gas stations in Pakistan where they provide various products such as petrol, diesel, and lubricants. Aramco’s decision to buy a portion of GO is part of its strategy to expand its business in the downstream sector, which involves refining and selling products directly to consumers.
However, this acquisition isn’t final yet. It depends on getting the green light from regulatory authorities. If everything gets approved, Aramco stands to benefit by having more places to sell their refined products, like petrol and diesel. Additionally, there’s an opportunity for them to promote and sell Valvoline-branded lubricants through the outlets owned by GO.
