In a landmark investment deal, Unioil Petroleum Philippines, Inc. has entered into a strategic partnership with Aramco, one of the world’s largest integrated energy and chemical companies. Under the agreement, Aramco will acquire a 25% stake in Unioil, reinforcing its commitment to expanding its footprint in the Philippine fuel market.
The partnership represents a significant milestone in Unioil’s 58-year history, positioning the company for growth, innovation, and enhanced competitiveness in the local fuel industry.
Unioil was established by the Co family in 1966, and was primarily into lubricants manufacturing and distribution. The company later on expanded into fuels trading, distribution, and retailing, coinciding with the deregulation of the country’s petroleum industry in 1998.
Today, the company is a key player in the country’s fuel sector, known for introducing cleaner and more advanced fuel products across Luzon, Visayas, and Mindanao.
Through Aramco’s strategic investment, Unioil will strengthen its market position and bring new fuel and lubricant offerings to Filipino consumers. Unioil will also introduce Aramco and Valvoline brands in the Philippine market, further diversifying its product lineup and enhancing its fuel and lubricant solutions.
“We are delighted with this new partnership with Aramco, which represents a major milestone in Unioil’s 58 years history. We are confident that this will equip ourselves in accelerating our growth and development, further innovate, and strengthen our position as a leader in the wholesale and retail fuels market,” Unioil CEO Janice Co Roxas-Chua said of the development.
Meanwhile, Kenneth C. Pundanera, President of Unioil, added: “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.”
The entry of Aramco into the Philippine fuel sector signals a strengthened commitment to energy security and innovation. Aramco, with its vast global resources and expertise, will bring new technology and fuel solutions that align with global sustainability and efficiency standards.
How do you think Aramco’s investment in Unioil will impact the Philippine fuel industry? Will this partnership lead to better fuel options and energy security for consumers? Share your thoughts in the comments below and follow Power Philippines for the latest updates on energy and fuel industry developments!
There are no comments
Add yours