Unioil Petroleum Phils., Inc. (Manila, Philippines), one of the largest petroleum players in the Philippines, has announced a pair of major strategic investments from Aramco (Dhahran, Saudi Arabia) and Repsol S.A. (Madrid, Spain) supporting continued growth within The Philippines and beyond.
As part of the agreement Aramco, one of the world’s leading integrated energy and chemicals companies, will acquire a 25% stake in Unioil. Unioil holds a significant portion of the fuels business in the country through its facilities in Luzon, Visayas and Mindanao. Through the partnership with Aramco, Unioil will also introduce the Aramco and Valvoline brands to Filipino consumers.
Janice Co Roxas-Chua, CEO of Unioil, stated: “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.”
As part of Repsol’s agreement, Repsol Downstream Internacional, S.A.U., a subsidiary of Repsol, has acquired a 40% stake in Unioil Lubricants Inc. (ULI), the lubricants manufacturing and distribution arm of the Unioil Group. With this joint venture agreement, ULI will be responsible for the manufacturing and distribution of a diverse range of products, including Unioil, Idemitsu, and Repsol lubricants. This partnership aims to leverage the strengths of both companies to enhance product offerings and expand market reach. In 1994, Unioil partnered with Idemitsu, one of the largest Japanese oil companies, to become the exclusive and licensed distributor of their products in the Philippines. Today, Unioil is one of the major local manufacturers of OEM branded lubricants.
Manuel Soriano, President of ULI, stated, “We are thrilled to announce this strategic partnership with Repsol. This collaboration not only strengthens our position in the lubricants market but also allows us to offer a wider range of high-quality products to our customers. We are confident that this partnership will drive significant growth and innovation for Unioil Lubricants Inc.”