Dutch energy company Vitol completed acquisition of shares equivalent to 10 percent of Pakistan's Hascol Petroleum, the company announced on Friday.
Vitol Dubai, part of the Vitol Group had previously acquired 15 percent of Hascol and its total shareholding is therefore around 25 percent of the share capital of Hascol.
Hascol has more than 400 service stations in Pakistan.
“Pakistan is experiencing solid economic growth and an expanding energy sector. It is an opportune time for Pakistan and we are pleased to be increasing our investment in Hascol," said Chris Bake, member of the executive committee of Vitol.
Hascol is engaged in procurement, storage and marketing of petroleum products.
By Murat Temizer