Saudi Aramco, a leading integrated energy and chemicals company, has entered into definitive agreements to acquire a 40% equity stake in Gas & Oil Pakistan Ltd. (GO). GO is a diversified downstream company involved in fuels, lubricants, and convenience stores operations and is among the largest retail and storage firms in Pakistan. The acquisition is contingent upon customary conditions, including regulatory approvals.

This move marks Aramco's initial entry into the fuels retail market in Pakistan, aligning with its broader strategy to enhance its downstream value chain globally. The acquisition is expected to provide Aramco with additional outlets for its refined products while offering new market opportunities for Valvoline-branded lubricants. Aramco had previously acquired the Valvoline Inc. global products business in February 2023.

The deal reflects Aramco's ongoing efforts to expand its footprint in downstream markets and diversify its operations internationally. The company continues to strategically position itself in key markets to strengthen its presence throughout the value chain.