Aramco’s steady strategic play

Saudi Aramco, the world’s most integrated oil company, has made its first foray into Pakistan’s retail fuel market by acquiring a 40 per cent stake in Gas & Oil Pakistan (GO). The acquired company, GO, is a diversified downstream fuels, lubricants, and convenience store operator with a network of more than 1,100 retail outlets in Pakistan. It provides petrol, diesel, and lubricants through storage points across Pakistan and a large fleet of oil tankers. The transaction advances Aramco’s strategy to reinforce its global downstream value chain. It enables Aramco to secure additional outlets for its refined products, providing new market opportunities for Valvoline-branded lubricants — one of the largest lubricant brands — which it acquired in February 2023. Besides being one of the world’s largest crude producers, Aramco has embarked on a transformational downstream growth strategy in recent years and is among the largest global refiners and chemical producers with operations across the Asian, European and North American markets.