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Aramco Completes Acquisition of 40% Stake in Gas & Oil Pakistan

At the closing ceremony are GO CEO Khalid Riaz, sitting left, and Aramco Director of International Retail Nader Douhan, sitting right. Standing, from left, are GO board members Bilal Ansari and Shahzad Mubeen, Aramco Executive Vice President of Products & Customers Yasser Mufti, GO Chairman Tariq Kirmani, and Aramco Vice President of Retail Ziyad Juraifani. (Aramco Official Site)
At the closing ceremony are GO CEO Khalid Riaz, sitting left, and Aramco Director of International Retail Nader Douhan, sitting right. Standing, from left, are GO board members Bilal Ansari and Shahzad Mubeen, Aramco Executive Vice President of Products & Customers Yasser Mufti, GO Chairman Tariq Kirmani, and Aramco Vice President of Retail Ziyad Juraifani. (Aramco Official Site)
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Aramco Completes Acquisition of 40% Stake in Gas & Oil Pakistan

At the closing ceremony are GO CEO Khalid Riaz, sitting left, and Aramco Director of International Retail Nader Douhan, sitting right. Standing, from left, are GO board members Bilal Ansari and Shahzad Mubeen, Aramco Executive Vice President of Products & Customers Yasser Mufti, GO Chairman Tariq Kirmani, and Aramco Vice President of Retail Ziyad Juraifani. (Aramco Official Site)
At the closing ceremony are GO CEO Khalid Riaz, sitting left, and Aramco Director of International Retail Nader Douhan, sitting right. Standing, from left, are GO board members Bilal Ansari and Shahzad Mubeen, Aramco Executive Vice President of Products & Customers Yasser Mufti, GO Chairman Tariq Kirmani, and Aramco Vice President of Retail Ziyad Juraifani. (Aramco Official Site)

Saudi oil giant Aramco said it has made further progress in its global retail expansion by completing the acquisition of a 40% equity stake in Gas & Oil Pakistan Ltd. (“GO”).

GO is a diversified downstream fuels, lubricants and retail store operator in Pakistan with a network of more than 1,200 retail fuel stations, Aramco said in a statement on Friday.

It added that the acquisition, first announced in December 2023, represents Aramco’s first Downstream retail investment in Pakistan and signals the Company’s growing retail presence in high-value markets.

"In March, Aramco also acquired a 100% equity stake in Esmax Distribución SpA (“Esmax”), a leading diversified downstream fuels and lubricants retailer in Chile," the statement added.

In this regard, Yasser Mufti, Aramco Executive Vice President of Products & Customers, said: “Our global retail expansion is gaining pace and this acquisition is an important next step on our journey. Through our strategic partnership with GO, we look forward to supplying Aramco’s high-quality products and services to valued customers in Pakistan."

"We are also delighted to welcome another high-caliber addition to Aramco’s growing network of global partners, and look forward to combining our resources and expertise to unlock new opportunities and further grow the Aramco brand overseas.”

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Riyadh to Host 3rd Edition of Saudi Tourism Forum Under the Slogan ‘To Discover’

A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)
A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)
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Riyadh to Host 3rd Edition of Saudi Tourism Forum Under the Slogan ‘To Discover’

A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)
A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)

Riyadh is set to host the third edition of the Saudi Tourism Forum from January 7 to 9 at Roshn Front.

Organized in partnership with the Ministry of Tourism, the Saudi Tourism Authority, and the Tourism Development Fund, the event will run under the theme "To Discover."

This year’s forum serves as a dynamic platform to highlight new and unique tourist destinations across the Kingdom, offering visitors innovative experiences while showcasing Saudi Arabia’s diverse tourism potential. With over 100 exhibitors, the forum provides an expansive space to explore the latest developments in the tourism sector, spotlight major investment projects, and foster skill development and partnerships to drive tourism growth.

Chief Executive Officer of 4M Event and Chairman of the Forum’s Organizing Committee Eng. Hamza Nasser emphasized the forum’s role in advancing collaboration within the tourism sector. "Through the forum, we aim to promote the beauty of Saudi tourist destinations, enhance cooperation among stakeholders, and raise awareness about investment and development opportunities. This aligns with the goals of the Kingdom’s Vision 2030,” he said.
Since its inception, the Saudi Tourism Forum has significantly advanced efforts to promote the Kingdom's rich cultural heritage and distinctive tourist sites. Supported by prominent partners and sponsors, the event underscores a shared commitment to developing this vital sector.
The program will feature a variety of seminars and workshops, offering insights into the latest trends and developments in tourism. Attendees will have the opportunity to engage with keynote speakers, decision-makers, and industry professionals, enhancing their skills and knowledge.
The forum is expected to attract a diverse audience, including business leaders, investors, officials, and dignitaries, creating fertile ground for collaboration and partnerships.