Saudi Aramco, the global heavyweight in oil and gas, is diving back into the Philippines after a long hiatus. On Wednesday, February 19, 2025, they sealed the deal to snag a 25% stake in Unioil Petroleum Philippines, a homegrown player that’s been making waves in the local fuel scene. The price tag’s still under wraps, but this move is a loud and clear signal, Aramco’s ready to plant its flag in the Philippines again, and they’re bringing their top-notch fuels and know-how with them.
Teaming Up with Unioil
Unioil’s no small fry. Started back in 1966 by the Co family, it’s grown into a major name with 165 gas stations and four storage terminals across the country. They’ve been a go-to for retail and wholesale fuel, and they’re the only ones pumping out Euro 5-compliant stuff—fancy, eco-friendlier fuel that’s a cut above the rest. For Aramco, hooking up with Unioil is like finding the perfect dance partner to strut their stuff in a market that’s hungry for quality energy.
Yasser Mufti, Aramco’s big shot in charge of products and customers, couldn’t hide his excitement. “This is a huge step for us,” he said. “We’re pumped to grow our retail network and bring Aramco’s goodies—like our fuels and Valvoline lubricants—to folks in the Philippines.” Once the paperwork’s cleared and regulators give the thumbs-up, you might start seeing Aramco’s logo pop up at Unioil stations, promising drivers a taste of that world-class quality.
Back in the Game After 15 Years
Aramco’s no stranger to the Philippines, though it’s been a minute. They used to own a hefty 40% of Petron, the country’s biggest oil outfit, until they cashed out in 2008 for $550 million. That stake ended up with Ramon Ang’s San Miguel crew, and Petron’s been a titan ever since. Now, after 15 years away, Aramco’s circling back, drawn by a booming economy and a chance to cash in on the Philippines’ growing thirst for fuel.
This isn’t just a random business grab, it’s got roots in some high-level chit-chat. Last October, Energy Secretary Raphael Lotilla inked a deal with Saudi Arabia’s Energy Minister Abdulaziz bin Salman Al Saud to team up on energy stuff. And back in 2023, President Marcos Jr. hobnobbed with Saudi bigwigs at a summit, setting the stage for deals like this. It’s all about building bridges, and Aramco’s jumping on that vibe.
Growing the Aramco Empire
This Unioil deal fits right into Aramco’s playbook. They’ve been scooping up retail gigs all over—like Chile’s Esmax in 2023 and a chunk of Pakistan’s Gas & Oil the same year. It’s all about locking down spots to sell their refined products as the world’s energy scene keeps shifting. The Philippines, with over 110 million people and an economy that’s revving up fast, is a no-brainer for them. Pair Aramco’s fuel-making chops with Unioil’s local setup, and you’ve got a recipe for some serious action.
More Than Just Oil?
Aramco’s still the king of oil, but they’re not blind to the future. They’ve been dipping toes into solar, hydrogen, and greener tech. The Philippines, with its own push for cleaner energy, might just be a spot where they test some of that out. Some folks on X are buzzing that this could mean solar panels or hydrogen pumps down the road, though Aramco’s got a steep hill to climb to hit those big green goals like net-zero by 2050.
What’s in It for the Philippines?
For Unioil and the Co family, this is a golden ticket. Aramco’s cash and clout could turbocharge their growth, maybe more stations, better tech, you name it. For regular Filipinos, it’s a chance to fill up with Aramco’s high-grade fuels and slick Valvoline oils, which could shake things up in a market where Petron and Shell have long ruled the roost.
Of course, it’s not all smooth sailing. Regulators like the Department of Energy and the Competition Commission will eyeball this deal to make sure it doesn’t mess with the market too much. And some local players might grumble about a foreign giant muscling in. But for now, it’s looking like a win-win.
What’s Next?
As of today, February 20, 2025, the deal’s still waiting on the green light from the powers that be. Unioil’s CEO Janice Co Roxas-Chua and Aramco Asia’s Fai Aldossar put pen to paper, with Mufti and Unioil’s Kenneth Pundanera cheering them on. Once it’s locked in, this could be the start of something big—not just for Aramco’s comeback, but for how energy flows in the Philippines.
So, keep an eye out. Whether it’s cheaper gas, snazzier stations, or maybe even a greener twist, Aramco’s back in town—and they’re here to make some noise.
