{"id":8894,"date":"2025-02-23T00:17:19","date_gmt":"2025-02-22T23:17:19","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=8894"},"modified":"2025-02-23T00:17:19","modified_gmt":"2025-02-22T23:17:19","slug":"aramco-reestablishes-presence-in-the-philippines-with-25-investment-in-unioil","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/02\/23\/aramco-reestablishes-presence-in-the-philippines-with-25-investment-in-unioil\/","title":{"rendered":"Aramco Reestablishes Presence in the Philippines with 25% Investment in Unioil"},"content":{"rendered":"\n<p class=\"p2\">By <b>Sheldeen Joy Talavera, <\/b><span class=\"s2\"><i>Reporter<\/i><\/span><\/p>\n<p class=\"p3\"><span class=\"s3\">SAUDI ARABIA\u2019S Aramco is making a comeback to <\/span><span class=\"s4\">the Philippine marketplace as it prepares to acquire a 25% ownership interest in Unioil Petroleum Philippines, Inc.<\/span><\/p>\n<p class=\"p4\">In distinct announcements, the Saudi oil behemoth and Unioil disclosed that they entered into a conclusive agreement, which is contingent on specific stipulations including regulatory consents.<\/p>\n<p class=\"p4\">No financial specifics of the deal were disclosed.<\/p>\n<p class=\"p4\">\u201cThis investment signifies another advancement in our worldwide strategy to broaden Aramco\u2019s retail footprint, and we eagerly anticipate bringing Aramco\u2019s premium products and services to consumers in the Philippines,\u201d Yasser Mufti, Aramco\u2019s executive vice-president of products and customers, stated in a release.<\/p>\n<p class=\"p4\">The agreement surfaces 17 years after Aramco, recognized as the globe\u2019s largest oil producer, departed the Philippines following the divestiture of its 40% share in Petron Corp. In 1994, Aramco invested in Petron during its privatization by the Philippine government.<\/p>\n<p class=\"p4\"><span class=\"s5\">Aramco, the state-owned oil corporation of Saudi Arabia, declared in a statement that it intends to \u201cleverage anticipated expansion in the high-value fuels sector within the Philippines.\u201d<\/span><\/p>\n<p class=\"p4\">\u201cThis acquisition represents further advancement in Aramco\u2019s strategic downstream growth and expansion of its international retail network, which aims to create additional venues for its refined offerings,\u201d the firm asserted.<\/p>\n<p class=\"p4\">Unioil, founded by the Co family in 1966, is a diversified downstream fuel distributor operating 165 retail outlets and four storage facilities across the Philippines.<\/p>\n<p class=\"p4\">\u201cThe strategic investment from Aramco aligns perfectly with our goal to become the preferred fuel retailer and to provide our customers with top-tier fuel solutions,\u201d remarked Kenneth C. Pundanera, president of Unioil.<\/p>\n<p class=\"p4\">Janice Co Roxas-Chua, chief executive officer of Unioil, characterized the arrangement as \u201ca significant milestone in Unioil\u2019s 58-year journey.\u201d<\/p>\n<p class=\"p4\">\u201cWe are confident that this will empower us to accelerate our growth and development, foster innovation, and fortify our status as a frontrunner in the wholesale and retail fuels arena,\u201d she stated.<\/p>\n<p class=\"p4\">In the framework of the partnership, Unioil will introduce Aramco\u2019s brands and Valvoline-branded lubricants to Filipino consumers.<\/p>\n<p class=\"p4\">In a request for comment, Jayniel Carl S. Manuel, an equity trader at Seedbox Securities, Inc., mentioned that Aramco\u2019s global stature could also elevate Unioil\u2019s market position, fostering both local and international confidence in its brand and potentially increasing market share.<\/p>\n<p class=\"p4\">\u201cSecuring a direct association with one of the world\u2019s most prominent oil producers could supply Unioil with a more stable and economical supply of crude and refined products, enhancing its competitiveness in both retail and industrial sectors,\u201d he elaborated via Viber.<\/p>\n<p class=\"p4\"><span class=\"s6\">Mr. Manuel indicated that the \u201chigh-profile nature\u201d of this investment suggests that the Philippine downstream sector is an appealing environment for foreign investors, which could potentially spur further international collaborations, intensify competition, and propel technological advancements.<\/span><\/p>\n<p class=\"p4\">Toby Allan C. Arce, head of sales trading at Globalinks Securities and Stocks, Inc., stated that Aramco\u2019s re-entry into the Philippine retail sector is expected to invigorate competition, prompting existing market players to innovate and enhance their offerings.<\/p>\n<p class=\"p4\">\u201cThe arrival of a global powerhouse like Aramco might draw more attention to the Philippines\u2019 fuel landscape, indirectly benefitting local brands through increased consumer and investor interest,\u201d Mr. Arce commented in a Viber message.<\/p>\n<p class=\"p4\">He noted that the projected expansion in infrastructure to support Aramco\u2019s operations \u201cmay reduce obstacles for other foreign investors, creating a ripple effect.\u201d<\/p>\n<p class=\"p4\">Juan Paolo E. Colet, managing director at China Bank Capital Corp., remarked that Aramco\u2019s entry as a strategic investor will enhance Unioil\u2019s positioning for expansion and competition as a leading fuel retailer.<\/p>\n<p class=\"p4\">\u201cAramco\u2019s return to the domestic oil market also reflects optimism and conviction regarding the country\u2019s economic future,\u201d he mentioned via Viber.<\/p>\n<p class=\"p4\">He added that this initiative could \u201cattract other global oil entities lacking or with limited domestic exposure to seek substantial partnerships or investments within the Philippines.\u201d<\/p>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.bworldonline.com\/top-stories\/2025\/02\/21\/654697\/saudis-aramco-returns-to-phl-market-via-25-stake-in-unioil\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Sheldeen Joy Talavera, Reporter SAUDI ARABIA\u2019S Aramco is making a comeback to the Philippine marketplace as it prepares to acquire a 25% ownership interest in Unioil Petroleum Philippines, Inc. In distinct announcements, the Saudi oil behemoth and Unioil disclosed that they entered into a conclusive agreement, which is contingent on specific stipulations including regulatory<\/p>\n","protected":false},"author":3,"featured_media":8895,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[1417],"class_list":["post-8894","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy-and-markets","tag-return-a-list-of-comma-separated-tags-from-this-title-saudis-aramco-returns-to-phl-market-via-25-stake-in-unioil"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Aramco Reestablishes Presence in the Philippines with 25% Investment in Unioil - WSJ-Crypto<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wsj-crypto.com\/index.php\/2025\/02\/23\/aramco-reestablishes-presence-in-the-philippines-with-25-investment-in-unioil\/\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Aramco Reestablishes Presence in the Philippines with 25% Investment in Unioil - WSJ-Crypto\" \/>\n<meta property=\"og:description\" content=\"By Sheldeen Joy Talavera, Reporter SAUDI ARABIA\u2019S Aramco is making a comeback to the Philippine marketplace as it prepares to acquire a 25% ownership interest in Unioil Petroleum Philippines, Inc. 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