International companies have had increasing interest in the Pakistani market in the past years. At the end of 2023 Aramco, the Saudi state owned Oil and Gas giant, decided to enter the Pakistani market. The company signed definitive agreements to acquire a 40 per cent equity stake in Gas & Oil Pakistan Ltd (GO).
A statement released on the official twitter account of the company said: “Our second planned retail acquisition this year aligns with Aramco’s downstream expansion strategy, with a clear path ahead for growing an integrated refining, marketing, lubricants, trading and chemicals portfolio worldwide.
Officially the worth of the transaction has not been disclosed by both sides but sources suggest that, the transaction was sealed for about $100m.
In addition to Aramco the Swiss brand Trafigura has also show interest in investing $100 million in the oil sector of Pakistan. According to sources In return with an agreement, Puma – Trafigura’s subsidiary will invest in building up 550 oil refinery in Admore. Additionally, the Swiss firm shall strengthen its role in Pakistan’s energy segment through enlarging their common LPG enterprise with the local private company.
