Aramco to open first branded fuel station in Philippines

SAUDI ARABIAN OIL Co. (Aramco) is set to open its first branded gasoline station in the Philippines this month, deepening its presence in the country’s downstream oil market following its investment in Unioil Petroleum Philippines, Inc. last year.

According to a media advisory, Aramco will inaugurate its first station in Parañaque City on July 16.

While the company has yet to issue an official announcement, a Facebook page identified as “Aramco Stations Philippines” has posted teasers ahead of the planned opening.

“From Saudi Arabia to Pakistan to Chile, and now, the Philippines. A legacy of progress and global innovation is making its way to your roads,” the page said.

Last year, Aramco acquired a 25% equity stake in Unioil Petroleum Philippines, Inc., marking the Saudi oil company’s return to the Philippine market after 17 years.

Under the partnership, Unioil will introduce Aramco’s fuel brands and Valvoline-branded lubricants to the Philippine market.

When the transaction was announced last year, Yasser Mufti, Aramco executive vice-president for products and customers, said the investment formed part of the company’s strategy to expand its retail network and strengthen its presence in growth markets.

Aramco previously held a 40% stake in Petron Corp. after the Philippine government privatized the oil company before later divesting its interest. — Sheldeen Joy Talavera