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Manila Bulletin devider Business devider The Stock Market devider PCC clears Aramco's acquisition of Unioil stakes

PCC clears Aramco's acquisition of Unioil stakes

Published Aug 26, 2025 02:31 pm
The Philippine Competition Commission (PCC) has cleared the proposed acquisition by Aramco Asia Singapore Pte. Ltd. of a 25 percent interest each in Unioil Petroleum Philippines, Inc. and Unioil Energy Pte. Ltd. a move that is poised to enhance competition in the country’s petroleum market. 

In a statement on Tuesday, Aug. 26, the antitrust body confirmed that its thorough review concluded the transaction would not negatively impact market competition or consumer welfare.
The PCC’s Mergers and Acquisitions Office (MAO) initiated a Phase 1 review on June 13, 2025, to assess any potential competition concerns. The review, as PCC said, examined the relevant markets for the nationwide non-retail supply of automotive and industrial lubricants and coolants, the global ex-refinery and non-retail supply of diesel and gasoline, and the nationwide supply of ethanol as a gasoline input.
After reviewing submissions from the involved parties and gathering feedback from third parties, the commission said it determined that the acquisition would not significantly diminish competition.
This conclusion was based on several key factors: the parties involved have limited market shares, they face substantial competition from existing market players, and low barriers to entry suggest that new players are likely to enter the market in a timely manner.
Aramco Asia Singapore, an affiliate of the Saudi Arabian Oil Co., functions as its Asia hub, managing sales, marketing, and logistics.
Unioil Petroleum is a domestic company that sells a variety of petroleum products, including diesel and gasoline. Unioil Energy is a foreign trading company that supplies these products to the Philippine market.
Under the Philippine Competition Act (PCA), the PCC is mandated to review mergers and acquisitions, including foreign transactions that meet specific notification thresholds, to prevent deals that could harm competition or consumers.

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