Saudi Arabia’s oil giant, Aramco, has officially launched its first branded retail gas station in Lahore, Pakistan, marking a significant step following its acquisition of a 40 percent stake in Gas & Oil Pakistan Ltd. (GO). This announcement was made on Tuesday and is part of Aramco’s broader strategy to expand its presence in the Pakistani market.
Aramco, a leading integrated energy and chemicals company, is responsible for producing approximately one in every eight barrels of the world’s oil supply. GO is recognized as one of Pakistan’s largest retail and storage firms, specializing in the procurement, storage, sale, and marketing of petroleum products and lubricants.
The newly established Aramco-branded stations will provide premium fuel, high-quality lubricants, professional automotive services, and modern convenience stores, enhancing the overall customer experience. This initiative is aimed at establishing a seamless service for consumers, according to a statement from the Corporate and Marketing Communications (CMC) team managing GO and Aramco’s public relations in Pakistan.
Yasser M. Mufti, Aramco’s Executive Vice President of Products and Customers, described the launch as a milestone in the company’s downstream growth, highlighting Pakistan’s significant growth potential. “Our values of excellence, innovation, and community partnerships guide us as we leverage our global refinery systems to ensure reliable supplies to customers while introducing our world-class retail offerings,” Mufti stated.
Aramco aims to expand its retail network in collaboration with GO, which operates over 1,200 fuel retail stations across Pakistan. “We are confident that this partnership will deliver exceptional value to customers,” Mufti added.
Khalid Riaz, CEO of GO, expressed similar sentiments, emphasizing that the launch of the Aramco-branded gas station in Lahore reflects their dedication to excellence and innovation. “Together with Aramco, we aim to elevate the retail fuel landscape in Pakistan, setting new benchmarks for quality, service, and customer satisfaction,” Riaz said.
The relationship between Pakistan and Saudi Arabia is strengthened by robust trade, defense, and cultural ties. The Kingdom hosts more than 2.7 million Pakistani expatriates and remains the largest source of remittances for the economically challenged South Asian nation.
In February 2019, during a visit by Saudi Crown Prince Mohammed bin Salman to Islamabad, Pakistan and Saudi Arabia signed investment deals worth $21 billion. These agreements included around $10 billion for an Aramco oil refinery and $1 billion for a petrochemical complex at Gwadar Port in Balochistan province.
Both nations are actively working to enhance bilateral trade and investment, with Saudi Arabia reaffirming its commitment this year to expedite a $5 billion investment package for Pakistan.
Related topic:
Fuel Prices Remain Steady in India Amid Global Market Changes
