Aramco Increases Global Retail Presence with 25% Stake in Unioil

As part of a larger worldwide development strategy, Saudi oil giant Aramco has entered the retail fuel market of the Southeast Asian country by signing final arrangements to purchase a 25% ownership position in Unioil Petroleum Philippines.

According to a news release from the firm, the purchase is intended to capitalize on the anticipated growth of the high-value fuels market in the Philippines, subject to regulatory clearances and standard closing conditions.

By looking for more markets for its refined goods, it also promotes Aramco's downstream growth. The transaction supports the company's efforts to expand its retail network in strategic markets and comes after comparable acquisitions in Chile and Pakistan.

“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,” Yasser Mufti, Aramco’s executive vice president of products and customers, said.

Aramco intends to expand its brand, launch competing retail products, and provide Valvoline-branded lubricants to a few Unioil stations if the deal is finalized.

Aramco's efforts to diversify its downstream footprint and take advantage of new market opportunities are demonstrated by the expansion. By influencing crude pricing trends in addition to making acquisitions, the firm has been extending its global influence