Tech Desk
Sep 15, 2024
Aramco, the world’s leading oil company, has officially unveiled the launch of its first gas station in Pakistan. This major move follows Aramco’s acquirement of a 40% stake in Gas and Oil Pakistan Ltd (GO) in May 2024.
Its main focus is to strengthen the company’s retail presence in Pakistan. Aramco Media Department confirmed in an official statement shared with Arab News, stating: “We are planning to launch our first gas station in Pakistan. We will share more details once the site is operational.”
This launch marks a significant milestone for the Saudi oil giant, signalling its strategic shift to extend its footprint in the South Asian market.
An official from Pakistan’s Board of Investment (BOI) emphasised the significance of Aramco’s investment in GO, calling it a major step toward retail investment in Pakistan. The acquisition is part of Aramco’s wide plan to grow its influence in emerging markets.
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Aramco’s Vice President of Products and Customers, Yasir Mufti stated on the acquisition of GO, calling it “a significant step for expanding globally.”
Mufti also spotlighted the company’s commitment to offering reliable products for consumers in Pakistan while creating new international growth opportunities for the oil giant.
Aramco’s entry into Pakistan is part of a larger investment deal between Saudi Arabia and Pakistan. Earlier in 2019, Saudi Crown Prince Mohammed Bin Salman signed a $21 billion agreement with Pakistan, which involved $10 billion for Aramco and $1 billion for a petrochemical complex at Gwadar port.
The increased trade and investment between the two countries reinforce a deepening economic relationship. Aramco’s launch in Pakistan is said to have a substantial effect on the local oil market and could pave the way for more developments soon.
