Aramco Acquires 25% Stake in Unioil
Deal News | Feb 20, 2025 | Zawya
Saudi Aramco has signed definitive agreements to acquire a 25% stake in Unioil Petroleum Philippines, marking a significant move in the company's strategic expansion into international downstream markets. The acquisition is contingent upon regulatory approvals and will enable Aramco to capitalize on the growth potential in the high-value fuels market of the Philippines. This initiative aligns with Aramco's broader objective to extend its retail network globally, thereby increasing its outlets for refined products. Yasser Mufti, Aramco's EVP of Products & Customers, emphasized the importance of this investment as a step in Aramco's global strategy and its intent to bring high-quality products and services to the Philippines. This acquisition follows similar expansions by Aramco into markets like Chile and Pakistan, and upon completion, will see the introduction of Valvoline-branded lubricants and the extension of Aramco's retail offerings in the Philippines.
Sectors
- Energy and Petroleum
- Retail
Geography
- Saudi Arabia – Home country of Saudi Aramco, the acquiring entity, and central to the company's strategic goals.
- Philippines – Target country for expansion through the acquisition of a stake in Unioil, reflecting the geographic focus of the discussed transaction.
Industry
- Energy and Petroleum – The article discusses Saudi Aramco's acquisition of a stake in Unioil, a petroleum company, indicating a focus on refining, distributing, and marketing petroleum products.
- Retail – The expansion of Aramco's retail network is a central theme, particularly its introduction of retail offerings and branded products in the Philippines market.
Financials
- 25% – The equity stake that Aramco has agreed to acquire in Unioil Petroleum Philippines.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Saudi Aramco | Bidding Company | Company | A leading global integrated energy and chemicals company, expanding its downstream operations by acquiring stakes in international markets. |
| Unioil Petroleum Philippines | Target Company | Company | One of the largest petroleum companies in the Philippines, involved in refining, distributing, and marketing petroleum products. |
| Yasser Mufti | Executive Vice President of Products & Customers | Person | An Aramco executive who commented on the strategic importance of the acquisition. |