Saudi Aramco launching Petroleum Outlets in Pakistan in the coming few months. The announcement came from Pakistan former Minister for Investment and the Founder of Nutshell Group Mr. Azfar Ahsan. Mr. Azfar was pivotal in managing foreign investment in the country during his tenure. Recently, he made a public announcement that Saudi Aramco is launching its branded retail petroleum outlets in Pakistan soon.

“Saudi Aramco, the world’s largest integrated energy and chemicals company, completed the acquisition of a 40% stake in Gas & Oil (GO) Pakistan in May 2024,” he shared. Saudi oil giant made a public statement in May 2024 that the acquisition of 40% stake in Gas & Oil (GO) Pakistan was complete.

Aramco brought the announcement with the closing ceremony where GO CEO Khalid Riaz (left), and Aramco Director of International Retail Nader Douhan (right) signed the acquisition agreement. Standing, from left, are GO board members Bilal Ansari and Shahzad Mubeen, Aramco Executive Vice President of Products & Customers Yasser Mufti, GO Chairman Tariq Kirmani, and Aramco Vice President of Retail Ziyad Juraifani.

Gas & Oil (GO) Pakistan is one of the largest retail and storage companies in Pakistan. It is an operator of diversified downstream fuels, lubricants and convenience stores across Pakistan. Most of its outreach exists on major highways and motorways of Pakistan.

The announcement reflects the trust of international brands in Pakistani market. Although, the country faces several economic challenges for the past few years. Several indicators showcase a better econ0omic trend within the country, especially in terms of macro economic terms. There are increasing hopes of further stability with the staff-level agreement between IMF and Pakistan.