KARACHI – After Saudi Arabia’s Aramco, a Swiss oil marketing company has also expressed interest in investing heavily in Pakistan.
Swiss oil marketing company Trafigura has signed an agreement to invest $10 million in Pakistan.
According to the agreement, petroleum products will be supplied to Pakistan under a long-term contract. Puma, a subsidiary of the Swiss Trafigura company, will invest in 550 petrol pumps of Edmor.
Swiss company Trafigura will also expand LPG business in Pakistan with private group, solar panel manufacturing and trading with private group.
Earlier, the world’s biggest oil producer, Saudi Arabian Oil Co., or Saudi Aramco, inked agreements to acquire 40 percent equity stake in Gas & Oil Pakistan Ltd (GO) as it enters fuel retailing in the fifth most populated country, where energy demand is expected to grow in coming years.
Saudi Aramco to acquire 40pc stakes in GO Pakistan amid Asian expansion drive
