Saudi Aramco cues PH retail station

MANILA, Philippines – The world’s largest oil company is set to make its return to the Philippine retail fuel market this month as Saudi Aramco prepares to open its first branded service station in the country following its strategic investment in local fuel retailer Unioil Petroleum Philippines Inc.

An advisory released by Aramco said the inaugural Aramco Station Sucat, San Antonio will officially open this July along Dr. A. Santos Avenue in Barangay San Antonio, Parañaque City.

READ: Saudi’s Aramco seals Unioil deal that marks Philippine petroleum comeback

Article continues after this advertisement

The event is billed as the start of “a new era of fueling” and celebrates the launch of the company’s first retail station in the Philippines.

FEATURED STORIES

BUSINESS

BUSINESS

BUSINESS

The station opening comes months after Aramco finalized its acquisition of a 25-percent stake in Unioil Petroleum Philippines Inc., marking the Saudi energy giant’s return to the Philippine petroleum market after 17 years of absence since it exited Petron Corp.

At the time, Unioil said the partnership would give the local firm access to a stable fuel supply to support rising domestic demand, while strengthening its long-term growth prospects.

“With Aramco’s partnership, we are confident in our ability to scale our operations, drive innovation, and strengthen our leadership in the wholesale and retail fuels market,” Unioil CEO Janice Co Roxas-Chua said.

Market observers also see broader implications from Aramco’s investment.

Article continues after this advertisement

Earlier, China Bank Capital Corp. managing director Juan Paolo Colet said the partnership would strengthen Unioil’s ability to compete and accelerate its expansion as one of the country’s major fuel retailers.

READ: Saudi Aramco to re-enter PH market via Unioil stake acquisition

Article continues after this advertisement

“Moreover, this move could invite other global oil players who have no or limited domestic exposure to explore significant partnerships or investments in the Philippines,” Colet said.

The launch comes as Aramco widens its footprint in Southeast Asia through downstream investments, with the Philippine market becoming one of the latest additions to its expanding international retail portfolio. INQ

Your subscription could not be saved. Please try again.

Your subscription has been successful.