ISLAMABAD: The Competition Commission of Pakistan (CCP) approved Aramco’s 40 per cent equity stake acquisition in Gas & Oil Pakistan Ltd (GO), the Saudi oil giant’s first entry into Pakistan’s fuels retail market.

Aramco Asia Singapore Pte Ltd, is a Singaporean company wholly owned by Saudi Aramco, filed the pre-merger application with the CCP.

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The company specialises in sales, marketing, procurement, logistics, and related services, with a focus on prospecting, exploring, drilling, extracting, processing, manufacturing, refining, and marketing hydrocarbon substances.

GO is involved in the procurement, storage, sale, and marketing of petroleum products and lubricants, the company has a significant storage capacity, high-quality assets and growth potential, which will help launch the Aramco brand in Pakistan.

Published in Dawn, April 30th, 2024