Vitol Dubai completes purchase of 15% of Pakistani Hascol Petroleum

Vitol Dubai, part of the Vitol Group, has finalized the acquisition of a 15 percent stake in Hascol Petroleum for USD 28 million, according to a company release. The energy and commodities company has the option to buy another 10 percent within one year.

Hascol Petroleum is a fast growing Pakistani retailer with a network of more than 300 gas stations nationwide and sales volume up at 38%.

“We are delighted to be investing in Pakistan’s energy sector through Hascol, one of the country’s fastest growing distributors of energy,” said Chris Bake, Member of the Executive Committee, Vitol.

Vitol invests in energy assets globally and trades more than 6 million barrels of crude oil and products per day. It posted revenues of USD 168 billion in 2015.