Aramco secures 40% stake in Gas & Oil Pakistan

An Aramco employee walks near an oil tank at Saudi Aramco’s Ras Tanura oil refinery and oil terminal in Saudi Arabia, May 21, 2018. (Reuters)
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Updated 12 December 2023
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Aramco secures 40% stake in Gas & Oil Pakistan

  • GO, a diversified downstream fuels, lubricants and convenience stores operator, is one of the largest retail and storage companies in Pakistan
  • The deal will be subject to specific conditions, including regulatory approvals, to advance Aramco’s strategy to strengthen downstream value chain

RIYADH: Saudi Aramco is set to enter the Pakistani fuels retail market for the first time after it signed an agreement to acquire a 40 percent stake in Gas & Oil Pakistan Ltd. 

GO, a diversified downstream fuels, lubricants and convenience stores operator, is one of the largest retail and storage companies in Pakistan. 

The deal will help Aramco secure additional outlets for its refined products and provide new market opportunities for Valvoline-branded lubricants following its acquisition of the Valvoline Inc. global products business in February. 

The agreement will be subject to specific customary conditions, including regulatory approvals, to advance Aramco’s strategy to strengthen its downstream value chain internationally. 

Aramco Downstream President Mohammed Y. Al-Qahtani 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.” 

He added: “GO has a significant storage capacity, high-quality assets and growth potential, which will help launch the Aramco brand in Pakistan.” 

In February 2019, Pakistan and Saudi Arabia inked investment deals totaling $21 billion during the visit of Saudi Crown Prince Muhammad 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. 

Speaking to Arab News on the sidelines of the 7th edition of The Future Summit in Karachi in November, Pakistani Energy Minister Muhammad Ali explained that the South Asian nation was “actively engaged” with Saudi authorities on a multibillion-dollar Aramco oil refinery project and expected progress within two months.  

He highlighted that it was a “big project of $8-10 billion and everything from investment funding, its structuring, and policy framework has to be considered.” 

The project encompasses building an integrated refinery in Pakistan that can process up to 450,000 barrels of crude oil daily. 

Aramco is a global integrated energy and chemicals company that produces approximately one in every eight barrels of the world’s oil supply and develops cutting-edge energy technologies. 


Imran Khan’s party seeks ‘confidence-building measures’ after government’s talks offer

Updated 03 January 2026
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Imran Khan’s party seeks ‘confidence-building measures’ after government’s talks offer

  • PTI says access to jailed founding leader essential for talks to be considered credible
  • Government says it’s ready for dialogue but nothing will happen until Khan favors the idea

ISLAMABAD: Pakistan’s jailed former prime minister Imran Khan’s party said on Saturday it would only consider the government’s offer for talks credible if it is accompanied by “concrete confidence-building measures,” such as unhindered access to its founding leader in a high-security prison in Rawalpindi.

Last month, Prime Minister Shehbaz Sharif said the government was fully prepared to hold a dialogue with Khan’s Pakistan Tehreek-e-Insaf (PTI) party to address political polarization that has deepened since the downfall of the PTI administration in a parliamentary no-confidence vote in 2022.

PTI has frequently complained about a state crackdown against its top leadership, including Khan and his wife, who are serving prison sentences in multiple cases ranging from corruption charges to inciting violence against state institutions and attacks on government properties.

Sharif’s offer for talks came amid media reports that PTI wanted a dialogue with the government, though he noted that negotiations would not be allowed to proceed on the basis of “blackmailing” or unlawful demands and would only cater to legitimate issues.

“Announcements of talks, without concrete confidence-building measures, cannot be treated as credible progress,” Azhar Leghari, PTI’s central deputy information secretary, told Arab News.

He recalled that Khan had authorized Mahmood Khan Achakzai and Allama Raja Nasir Abbas to carry forward with the dialogue process, adding that talks “require trust, and trust cannot be built at the cost of constitutional rights or democratic legitimacy.”

“For dialogue to be meaningful, it is essential that these authorized representatives are allowed regular and unhindered access to Imran Khan so that any engagement accurately reflects his views and PTI’s collective position,” he added.

Khan’s family, party and legal team have complained in the past they are stopped by the authorities from meeting the ex-PM in prison. Last month, they also raised concerns about his health, prompting the officials to allow one of his sisters to meet him, who said he was fine.

Shortly thereafter, a scathing message was posted on his social media account, criticizing the army chief. Khan’s post elicited a bitter response from the government and the military amid accusations of inciting people against state institutions.

Leghari’s comments came only a day after Rana Sanaullah, adviser to Prime Minister Sharif on political affairs, said PTI’s “second- or third-tier leadership” wanted dialogue, but nothing was going to happen until Khan favored these negotiations.

He also maintained that while the government was ready for talks, “uncertainty and delays from PTI are preventing progress.”

Meanwhile, a newly formed National Dialogue Committee of former PTI leaders told Arab News it had organized a session on Wednesday, January 7, in the federal capital that will bring together all major political parties, journalists, lawyers and representatives of civil society.

“Our goal is to bring political leaders together so that, while discussing their own issues, they can collectively seek solutions to the nation’s challenges,” Mahmood Baqi Moulvi, a Pakistani politician and member of the committee, said.

“The initiative also builds on previous efforts, including a letter to the prime minister requesting confidence-building measures to enable talks with PTI,” he added.

The National Dialogue Committee had urged the government in the letter to grant parole to jailed party figures in Lahore, including former foreign minister Shah Mahmood Qureshi and Dr. Yasmin Rashid, describing the move as vital for building trust ahead of negotiations.

It had also maintained such a step “would not only create an extremely positive, conducive, and trust-filled environment for the negotiations but would also lay a strong foundation for restoring mutual confidence among all stakeholders.”

While the government has also offered dialogue in the past, PTI leaders have conditioned participation on substantive measures, including what they describe as an end to politically motivated prosecutions and arrests, restoration of fundamental rights, respect for judicial independence and a credible roadmap toward free and fair elections.

“Reconciliation is possible, but it must be based on correcting injustices rather than managing optics,” Leghari said. “A genuine reset requires restoring respect for the Constitution, ending political victimization and allowing democratic processes to function without interference.”

Rana Sanaullah and Deputy Law Minister Barrister Aqeel Malik did not respond to requests for comment.