Unioil Announces Strategic Investment by Aramco
Unioil CEO Janice Co Roxas-Chua, sitting left, signs the agreement with Aramco Asia Singapore Managing Director Fai Aldossary, sitting right.
Standing, from left, are Aramco Trading Vice President of Trading Growth & Origination Abdulaziz Al-Hamdan, Unioil President Kenneth Pundanera, Aramco Director of International Retail Nader Douhan, Unioil CFO Geminesse Co, Aramco Executive Vice President of Products & Customers Yasser Mufti, Aramco Vice President of Retail Ziyad Juraifani, and Aramco Director of Downstream Transaction Development Amr Daiel
February 19, 2025 — Unioil Petroleum Philippines, Inc. is pleased to announce that it has entered into definitive agreements regarding a strategic investment by Aramco. As part of the agreement Aramco, one of the world’s leading integrated energy and chemicals companies, will acquire a 25% stake in Unioil, one of the largest petroleum players in the Philippines.
Unioil is a Filipino company founded in 1966 by the Co family. It started its business in lubricants manufacturing and distribution. Upon the deregulation of the Petroleum Industry in 1998, Unioil ventured in fuels trading, distribution and retailing. Since then, Unioil has consistently been at the forefront in the introduction of cleaner, more advanced fuel products. Today, Unioil holds a significant portion of the fuels business in the country through its facilities in Luzon, Visayas and Mindanao. Through the partnership with Aramco, Unioil will also introduce the Aramco and Valvoline brands to Filipino consumers.
Janice Co Roxas-Chua, CEO of Unioil, stated: “We are delighted with this new partnership with Aramco, which represents a major milestone in Unioil’s 58 years history. We are confident that this will equip ourselves in accelerating our growth and development, further innovate, and strengthen our position as a leader in the wholesale and retail fuels market.”
Kenneth C. Pundanera, President of Unioil, added: “The strategic investment by Aramco is fully in line with our ambition to be the fuel retailer of choice and support our customers with top tier fuel solutions.”
With this strategic investment, Unioil is poised to further enhance its capabilities and continue its legacy of providing high-quality fuel products to the Filipino market. The collaboration with Aramco marks a new chapter in Unioil's journey, one that promises innovation, growth, and a strengthened commitment to sustainability and customer satisfaction.
