SAUDI ARABIAN Oil Co. (Aramco) and Unioil Petroleum Philippines, Inc. plan to open three more Aramco-branded fuel stations as they expand the Saudi oil giant’s retail presence within the Philippines.
The expansion follows the opening of Aramco’s first branded fuel station within the country on Dr. A. Santos Avenue, Barangay San Antonio, Parañaque City, on Thursday.
“Here within the Philippines, we’re proud to introduce Aramco’s own retail experience,” Aramco Vice-President of Retail Ziyad Juraifani said through the station’s opening.
“Along with Valvoline via Aramco, we’re bringing the trusted expertise of lubricants and automobile care services to assist keep vehicles acting at their best,” he added.
The station marks Aramco’s return to the Philippine downstream oil sector 18 years after exiting the market. The corporate said it’s returning to capitalize on the anticipated growth of the country’s high-value fuels market.
The station offers ProForce premium fuel, priced at P81.60 per liter for diesel and P80.50 per liter for gasoline through the opening, in addition to Valvoline lubricants.
Aramco re-entered the Philippine market through its 295-million Saudi riyal investment for a 25% stake each in Unioil Petroleum Philippines, Inc. and Unioil Energy Pte. Ltd. The investment is corresponding to about P4.8 billion based on the present exchange rate.
Unioil President Kenneth C. Pundanera said three more Aramco-branded stations are planned along Quezon Avenue, the northern end of Epifanio de los Santos Avenue (EDSA), and the North Luzon Expressway (NLEX).
“This (Parañaque) station has long served its community under the Unioil name. It carries the trust, relationship, and experience that Unioil has built through the years,” Mr. Pundanera said.
“Now it becomes the primary Aramco-branded station within the Philippines, bringing together Aramco’s global strength and commitment to quality with Unioil’s local knowledge, entrepreneurial spirit, and understanding of the Filipino motorists,” he added.
Aramco previously held a 40% stake in Petron Corp., the country’s largest oil company, after the Philippine government privatized the firm. It later sold its stake. — Sheldeen Joy Talavera