Daily Management Review

Saudi Aramco to buy 40% of oil products distributor in Pakistan


Saudi Aramco announced that it has finalized an agreement to purchase a 40% share in Gas&Oil Pakistan Ltd. ("GO").

GO is a convenience shop, gasoline, diesel, and lubricant operator with 1,100 gas stations in Pakistan.

The transaction, which will mark Aramco's debut in Pakistan's retail sector, is still pending regulatory clearance.

Through the acquisition, Aramco will be able to expand the markets for its petroleum products and open up new ones for its lubricants bearing the Valvoline name.

source: bloomberg.com