12 Dec, 23

Saudi Aramco Enters Pakistan in Downstream Expansion Drive

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Saudi Aramco is entering Pakistan’s downstream market by acquiring a 40% stake in Gas & Oil Pakistan Ltd, one of the country’s largest retail and storage companies, as the oil giant seeks international downstream expansion and Saudi Arabia looks to invest more in its ally Pakistan. Saudi Aramco said on Tuesday it had signed definitive agreements to acquire a 40% equity stake in Gas & Oil Pakistan Ltd (GO), a diversified downstream fuels, lubricants, and convenience stores operator.   The transaction is subject…

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