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

Saudi oil giant Aramco is acquiring a 25-percent stake in Unioil Petroleum to revive its presence in the Philippine market.
Saudi Aramco plans to acquire a 25-percent stake in Unioil Petroleum in the Philippines, aiming to re-establish its market presence.
Both Saudi Aramco and Unioil announced they entered into definitive agreements regarding the stake purchase, which is subject to closing conditions and regulatory approvals.
The investment aims to expand Aramco’s retail network and introduce high-quality products to Filipino consumers.

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Rappler

Saudi oil giant Aramco is returning to Philippines as Unioil levels up

MANILA, Philippines – Competition in the Philippines’ petroleum industry is heating up. After 17 years, Saudi oil giant Aramco is reentering the Philippine market as an investor after signing a deal to acquire a 25% stake in Unioil Petroleum Philippines (Unioil), a move that could eat into the markets of leading oil firm Petron Corporation, second biggest Shell Pilipinas Corporation, and other players in the industry. The publicly listed firm ow…

2 days ago·Philippines

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Oil Price

Aramco to Acquire 25% Stake in Unioil Petroleum Philippines

Aramco will enter the Philippines in yet another strategic downstream deal as part of the Saudi oil giant’s efforts to expand its retail and downstream offerings in Asia. The world’s biggest oil firm on Thursday signed definitive agreements to buy a 25% equity stake in one of the largest petroleum companies in the Philippines, Unioil Petroleum Philippines. Aramco plans to capitalize on the expected growth of the high-value fuels market in the …

2 days ago·London, United Kingdom

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Inquirer

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

MANILA, Philippines — Saudi oil giant Aramco plans to revive its presence in the Philippine market by acquiring a 25-percent stake in Unioil Petroleum. Aramco is known as one of the leading integrated energy and chemical companies worldwide, while Unioil is a major petroleum player in the local sector. READ: Saudi Aramco says Q3 profit

2 days ago·Manila, Philippines

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ABS-CBN

Global oil giant Aramco to acquire 25 percent stake in Unioil

Global petroleum giant Aramco is investing in Unioil.

2 days ago·Quezon City, Philippines

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bworldonline.com

Saudi’s Aramco returns to PHL market via 25% stake in Unioil - BusinessWorld Online

By Sheldeen Joy Talavera, Reporter SAUDI ARABIA’S Aramco is returning to the Philippine market as it is set to acquire a 25% equity stake in Unioil Petroleum Philippines, Inc. In separate statements, the Saudi oil giant and Unioil said they signed a definitive agreement, which is subject to certain conditions including regulatory approvals. No financial details of the transaction were provided. “This investment represents another step forward in…

2 days ago

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offshore-technology.com

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Europe Says

Aramco to buy 25% stake in Unioil Petroleum Philippines

Petroleum refineries firm Aramco has signed agreements to acquire a 25% stake in Unioil Petroleum Philippines, a downstream fuels operator established in 1966.

2 days ago

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