Aramco Explores Philippine Retail Market with Unioil Stake Acquisition
Deal News | Feb 19, 2025 | PR Newswire Cision Aramco
Aramco, a leading global energy and chemical company, has announced its intention to expand its retail network to the Philippines by acquiring a 25% stake in Unioil Petroleum Philippines. This move signifies Aramco's ongoing strategy to bolster its downstream presence on high-value markets. The acquisition aims to capitalize on the anticipated growth of the high-value fuel market in the Philippines, subject to regulatory approvals. Yasser Mufti, executive VP of products & customers at Aramco, emphasized the strategic importance of this move in enhancing Aramco's market in dynamic economies and partnering with leading local entities. Unioil, established in 1966, operates a rapidly expanding network of retail stations and storage terminals across the Philippines. This deal follows Aramco's recent acquisitions in Chile and Pakistan.
Sectors
- Energy & Petchem
- Retail Fuel
- Downstream Petroleum
Geography
- Saudi Arabia – Aramco is headquartered in Saudi Arabia and is driving the acquisition.
- Philippines – The target market for Aramco's retail expansion and the location where Unioil operates.
- Chile – Reference to a previous acquisition by Aramco in the retail sector.
- Pakistan – Mentioned as an existing region of retail operations for Aramco.
Industry
- Energy & Petchem – The article deals with Aramco's activities as it is one of the world’s leading integrated energy and chemicals companies.
- Retail Fuel – Aramco's acquisition of a stake in Unioil indicates a focus on the retail fuel market.
- Downstream Petroleum – The acquisition demonstrates Aramco's strategy to expand its downstream operations.
Financials
- 25% – The stake Aramco intends to acquire in Unioil Petroleum Philippines.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Aramco | Bidding Company | Company | A leading integrated energy and chemicals company driving the acquisition of a stake in Unioil. |
| Unioil Petroleum Philippines | Target Company | Company | A diversified downstream fuel operator in the Philippines, the target of Aramco's acquisition. |
| Yasser Mufti | Individual | People | Executive VP of Aramco responsible for products and customers. |