The Vitol Group in Pakistan have confirmed their purchase of shares in Hascol Petroleum. Vitol Dubai Limited, part of the Vitol Group, has completed the acquisition of shares equivalent to 15% of Hascol Petroleum Limited’s share capital for a total sum of circa US$28 million, with the option to buy another 10% shareholding within one year. Hascol is a fast growing retailer within Pakistan with over 300 service stations nationwide. Chris Bake, Member of the Executive Committee, Vitol said: “We are delighted to be investing in Pakistan’s energy sector through Hascol, one of the country’s fastest growing distributors of energy.”
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