Aramco, one of the world’s largest integrated energy and chemicals companies, is acquiring a 25% stake in Unioil Petroleum Philippines to expand its presence in the local fuel market.
Financial details of the planned acquisition were not disclosed. In a statement, Saudi Arabia’s state-owned firm Aramco said the move is part of its broader strategy to expand its global retail network.
“This investment represents another step forward in our global strategy to expand Aramco’s retail network, and we look forward to introducing Aramco’s high-quality products and services to customers in the Philippines,” said Yasser Mufti, Aramco’s executive vice president of Products & Customers.
The investment is expected to boost Aramco’s presence in Southeast Asia and strengthen its position in the region’s retail and wholesale fuel sector.
The announcement follows Aramco’s previous retail acquisitions in Chile and Pakistan.
Founded in 1966 by the Co family, Unioil is one of the largest and fastest-growing petroleum companies in the Philippines, operating 165 retail stations and four storage terminals across the country.
The company became the first to introduce Euro 5 fuels in the Philippines. It has also focused on providing cleaner and more efficient fuel solutions amid rising demand for sustainable energy alternatives.
Upon completion of the investment, Aramco plans to roll out its branding and competitive retail offerings across select Unioil stations in the Philippines.
The company will also introduce Valvoline-branded lubricants to the local market, enhancing its portfolio of high-quality automotive products.
“The strategic investment by Aramco is fully in line with our ambition to be the fuel retailer of choice and support our customers with top-tier fuel solutions,” Unioil president Kenneth Pundanera said.
