Saudi Arabia’s Aramco has secured a 25% equity stake in Unioil Petroleum Philippines as part of its global downstream expansion, Reuters repoted. The financial details of the deal were not disclosed.
Unioil, established in 1966, operates a network of 165 fuel stations and four storage terminals across the Philippines. This acquisition aligns with Aramco’s ongoing efforts to strengthen its retail footprint, following similar investments in Chile and Pakistan.
Aramco highlighted that the partnership aims to tap into the growing demand for high-value fuels in the Philippines. It also plans to introduce its brand and extend retail offerings, including Valvoline-branded lubricants, to select Unioil stations.
