Vitol increases shareholding in Hascol Petroleum Limited

Vitol increases shareholding in Hascol Petroleum Limited

Vitol Dubai Limited, part of the Vitol Group, has acquired an additional 10% of Hascol Petroleum Limited for $18.7m. Vitol now owns 25% of the company.

Hascol is a fast growing retailer within Pakistan with over 400 service stations nationwide. To date, sales have increased 29% in volume terms year on year and, with its countrywide network of infrastructure, Hascol is well positioned to continue to serve Pakistan’s growing energy needs.

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Member of Vitol’s Executive Committee, Chris Bake said: “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.”

For more information visit www.vitol.com

17th July 2017