Aramco has signed definitive agreements to acquire a 25% equity stake in Unioil Petroleum Philippines, one of the largest petroleum companies in the Philippines. The acquisition is subject to regulatory approvals and customary closing conditions.
The investment aligns with Aramco’s strategy to expand its downstream operations and retail network, aiming to capture growth in the high-value fuels market in the Philippines.
Unioil, established in 1966, operates 165 retail stations and four storage terminals in the Philippines. Aramco plans to introduce its brand and Valvoline-branded lubricants at select Unioil retail locations.
This deal follows Aramco’s recent retail acquisitions in Chile and Pakistan, furthering its international expansion strategy.
