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Manila Bulletin devider Business devider The Stock Market devider Saudi Aramco buys into Unioil for Philippine re-entry

Saudi Aramco buys into Unioil for Philippine re-entry

Published Nov 7, 2025 02:59 pm
Saudi Arabian oil giant Aramco has returned to the Philippine market after a 16-year absence, finalizing a deal to acquire a 25 percent equity stake in Unioil Petroleum Philippines, Inc.
Unioil announced the finalized partnership in a statement on Friday, Nov. 7, following clearance from the Philippine Competition Commission (PCC), which confirmed the transaction would not negatively impact market competition or consumer welfare.
The completed partnership grants Unioil access to a reliable fuel supply source as oil demand continues to grow domestically.
According to Unioil, the deal is expected to enhance the country’s energy security, fuel economic development, and expand Unioil's operations to provide more fuel solutions across the nation.
Janice Co Roxas-Chua, Unioil Chief Executive Officer, stated Aramco’s re-entry would help the company scale operations and boost its presence in both the wholesale and retail fuels markets.
“We are thrilled to officially welcome Aramco as our strategic partner. This marks a new chapter in Unioil’s journey—one defined by innovation, excellence, and a deepened commitment to serving our customers and communities across the Philippines,” she said.
Unioil President Kenneth Pundanera added that the investment aligns with the company's goal to become the fuel retailer of choice.
“The strategic investment by Aramco is fully aligned with our ambition to be the fuel retailer of choice. This partnership empowers us to elevate our service standards, expand our reach, and deliver top-tier fuel solutions to Filipino motorists. It also affirms the strength of our business and the potential of the Philippine market to attract world-class partners,” he noted.
Aramco's plan to return to the country was initially announced in December 2024. The energy firm previously divested its stake in Petron Corporation in 2008.
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