Latest news with #UnioilPetroleumPhilippines
Asharq Al-Awsat
20-02-2025
- Automotive
- Asharq Al-Awsat
Saudi Aramco to Acquire 25% Stake in Unioil Petroleum Philippines
Saudi Arabia's Aramco has signed an agreement to acquire a 25% equity stake in Unioil Petroleum Philippines, the company said in a statement late on Wednesday. Established in 1966, Unioil is a downstream fuels operator with a network of 165 retail stations and four storage terminals in the Philippines, the statement said. The deal follows Aramco's previous retail acquisitions in Chile and Pakistan. Aramco said the Unioil stake acquisition represents further progress in its strategic downstream expansion and growth of its global retail network. It added that the deal aims to capitalize on anticipated growth of the high-value fuels market in the Philippines, and it planned to extend its brand and retail offerings such as Valvoline-branded lubricants to select retail stations in the country.
Zawya
20-02-2025
- Business
- Zawya
Saudi Aramco to buy 25% stake in Philippines' Unioil
Aramco has signed definitive agreements to acquire a 25 per cent equity stake in Unioil Petroleum Philippines, one of the largest petroleum companies in the Philippines. The planned acquisition, which is subject to customary closing conditions including regulatory approvals, aims to capitalise on anticipated growth of the high-value fuels market in the Philippines. It represents further progress in Aramco's strategic downstream expansion and growth of its global retail network, which aims to secure additional outlets for its refined products. Yasser Mufti, Aramco Executive Vice President of Products & Customers, said: '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. Our international expansion aims to capture additional value and enhance our participation in vibrant economies, in collaboration with established partners. We are delighted to embark on the next stage of this journey with Unioil, a dynamic player in the fast-growing Philippines fuels market.' The announcement follows Aramco's previous retail acquisitions in Chile and Pakistan. Upon completion, Aramco intends to extend its brand, competitive retail offerings and Valvoline-branded lubricants to select retail stations in the Philippines. -TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Khaleej Times
20-02-2025
- Automotive
- Khaleej Times
Saudi Aramco to acquire 25% stake in Unioil Petroleum Philippines
Saudi Arabia's Aramco has signed an agreement to acquire a 25% equity stake in Unioil Petroleum Philippines, the company said in a statement late on Wednesday. The company, however, did not disclose financial details of the transaction. Established in 1966, Unioil is a downstream fuels operator with a network of 165 retail stations and four storage terminals in the Philippines, the statement said. The deal follows Aramco's previous retail acquisitions in Chile and Pakistan. Aramco said the Unioil stake acquisition represents further progress in its strategic downstream expansion and growth of its global retail network. It added that the deal aims to capitalise on anticipated growth of the high-value fuels market in the Philippines, and it planned to extend its brand and retail offerings such as Valvoline-branded lubricants to select retail stations in the country.
Arab News
19-02-2025
- Business
- Arab News
Aramco expands global retail network with 25% stake in Philippines' Unioil
RIYADH: Saudi oil giant Aramco has signed definitive agreements to acquire a 25 percent equity stake in Unioil Petroleum Philippines, marking its entry into the Southeast Asian nation's retail fuel market as part of a broader global expansion strategy. The deal, subject to regulatory approvals and customary closing conditions, is aimed at capitalizing on the expected growth of the high-value fuels market in the Philippines, the company said in a press release. It also advances Aramco's downstream expansion by seeking additional outlets for its refined products. The investment follows similar acquisitions in Chile and Pakistan, reinforcing the company's push to strengthen its retail network in key markets. '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 and customers. 'Our international expansion aims to capture additional value and enhance our participation in vibrant economies, in collaboration with established partners. We are delighted to embark on the next stage of this journey with Unioil, a dynamic player in the fast-growing Philippines fuels market,' he added. Founded in 1966, Unioil operates 165 retail stations and four storage terminals across the Philippines. Upon completion of the deal, Aramco plans to extend its brand, introduce competitive retail offerings, and supply Valvoline-branded lubricants to select Unioil stations. The expansion underscores Aramco's efforts to diversify its downstream footprint and capitalize on emerging market opportunities. The company has been expanding its global reach not just through acquisitions but also by influencing crude pricing trends. Aramco recently raised its official selling prices for Asian buyers to the highest levels in more than a year, citing rising demand from China and India, as well as supply disruptions linked to US sanctions on Russian oil. The price adjustments highlight Aramco's ability to navigate shifting market dynamics while maintaining its dominance in crude supply. With recent investments in Chile, Pakistan, and now the Philippines, Aramco is pushing deeper into international retail markets, securing outlets for refined products and strengthening its presence in high-growth economies.
Arabian Business
19-02-2025
- Business
- Arabian Business
Aramco eyes Philippines expansion with 25% Unioil deal
Saudi Arabia's Aramco has signed definitive agreements to acquire a 25 per cent equity stake in Unioil Petroleum Philippines, one of the largest petroleum companies in the Philippines. The Saudi firm said the planned acquisition, which is subject to customary closing conditions including regulatory approvals, aims to capitalise on anticipated growth of the high-value fuels market in the Philippines. It represents further progress in a strategic downstream expansion and growth of its global retail network, which aims to secure additional outlets for its refined products. Aramco takes sake in Unioil Petroleum Philippines Executive Vice President of Products and Customers Yasser Mufti said: '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. 'Our international expansion aims to capture additional value and enhance our participation in vibrant economies.' Unioil, a diversified downstream fuels operator established in 1966, is one of the fastest growing retail, wholesale and storage companies in the Philippines, with a network of 165 retail stations and four storage terminals in the country. The announcement follows the energy giant's previous retail acquisitions in Chile and Pakistan.
