BB Energy completes acquisition of equity stake in Euro Oil

LAHORE     –  Global trading company BB Energy Group has announced the completion of an equity stake in Euro Oil Private Limited (Euro Oil), which is a new-gen oil marketing company (OMC)in Pakistan.

Euro Oil is on track to roll out over 375 retail petrol stations nationwide and develop more than 50,000MT of storage capacity in the next few years. The transaction brings BB Energy’s global energy trading expertise to help Euro Oil implement its dynamic business model.

Sohail Ahmad, Chief Operating Officer and Director Euro Oil Pvt Limited, said “We believe that this partnership will be instrumental in our growth and will help us develop state of the art energy infrastructure in Pakistan. We are excited that a global trading firm like BB Energy has invested in Pakistan which is a testament that Pakistan remains an attractive market for foreign direct investment. “

Investment in Euro Oil is part of “the BB Energy Group’s long-term strategy to invest in energy infrastructure around the world,” said Khaled Bassatne, managing director of BB Energy Gulf DMCC.

Article source: https://nation.com.pk/16-Oct-2020/bb-energy-completes-acquisition-of-equity-stake-in-euro-oil