抖阴短视频

ISLAMABAD: Saudi oil giant Aramco said on Wednesday it would launch its first branded retail gas station in Pakistan by the end of the year, having already completed the acquisition of a 40 percent stake in Gas & Oil Pakistan Ltd. (GO) in May.

Aramco is a global integrated energy and chemicals company that produces approximately one in every eight barrels of the world鈥檚 oil supply. GO, one of Pakistan鈥檚 largest retail and storage companies, is involved in the procurement, storage, sale and marketing of petroleum products and lubricants.

鈥淲e are working to launch our first Aramco-branded gas station in Pakistan by the end of the year,鈥� the Saudi oil company鈥檚 media department told Arab News in an emailed statement. 鈥淲ill share more information when the site is commissioned.鈥�

A Pakistan Board of Investment (BOI) official said Aramco鈥檚 acquisition of GO represented the oil giant鈥檚 first downstream retail investment in Pakistan and signaled the company鈥檚 growing retail presence in high-value markets. 

In March, Aramco also acquired a 100 percent equity stake in Esmax Distribuci贸n SpA, a leading diversified downstream fuels and lubricants retailer in Chile.

鈥淥ur global retail expansion is gaining pace and this acquisition [of GO] is an important next step on our journey,鈥� Yasser Mufti, Aramco Executive Vice President of Products & Customers, said in a statement in May when the GO deal was completed. 

鈥淭hrough our strategic partnership with GO, we look forward to supplying Aramco鈥檚 high-quality products and services to valued customers in Pakistan. We are also delighted to welcome another high-caliber addition to Aramco鈥檚 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.鈥�

Pakistan and 抖阴短视频 enjoy strong trade, defense and cultural ties. The Kingdom is home to over 2.7 million Pakistani expatriates and serves as the top source of remittances to the cash-strapped South Asian nation.

In February 2019, Pakistan and 抖阴短视频 inked investment deals totaling $21 billion during a visit by Saudi Crown Prince Mohammed bin Salman to Islamabad. The agreements included about $10 billion for an Aramco oil refinery and $1 billion for a petrochemical complex at the strategic Gwadar Port in Balochistan.

Both countries have been working in recent months to increase bilateral trade and investment, and the Kingdom in April this year reaffirmed its commitment to expedite an investment package worth $5 billion for Pakistan.