Philippines
Saudi Aramco to Launch First Branded Fuel Station in the Philippines
The Saudi oil giant's entry into the Philippine market marks a significant development in the country's downstream oil sector.
Saudi Arabian Oil Company (Aramco) is poised to open its inaugural branded gasoline station in the Philippines this month. This development follows the company’s strategic investment in Unioil Petroleum Philippines, Inc. last year, which has allowed Aramco to deepen its footprint in the country’s downstream oil market.
According to a media advisory, the new station will be located in Parañaque City. Although Aramco has not yet issued an official announcement, teasers have appeared on a Facebook page named “Aramco Stations Philippines,” which highlights the company's legacy of progress and innovation across various countries, including Pakistan and Chile.
“A legacy of progress and global innovation is making its way to your roads.”Aramco Stations Philippines Facebook page
Last year, Aramco acquired a 25% equity stake in Unioil Petroleum Philippines, marking its return to the Philippine market after a 17-year hiatus. Under this partnership, Unioil is set to introduce Aramco’s fuel brands and Valvoline-branded lubricants to the local market. Yasser Mufti, Aramco's executive vice-president for products and customers, stated that this investment is part of the company’s broader strategy to expand its retail network and strengthen its presence in emerging markets.
“This investment is part of the company’s strategy to expand its retail network and strengthen its presence in growth markets.”Yasser Mufti, Aramco executive vice-president for products and customers
Historically, Aramco had held a 40% stake in Petron Corporation, a major oil refining and marketing company in the Philippines, before divesting its interest. The re-entry of Aramco into the Philippine market signifies a renewed interest in the region's energy sector, which has been evolving rapidly in recent years.
As the Philippines continues to seek energy security and diversification, the arrival of international players like Aramco could potentially enhance competition and provide consumers with more options in the fuel market.