1 Mar 2025
Repsol, a Spanish multinational energy and petrochemical company, has expanded its footprint in Asia by acquiring a 40% stake in Unioil Lubricants, Inc. (ULI), the lubricants manufacturing and distribution arm of the Unioil Group of Companies. This strategic partnership aims to bolster Repsol's production and distribution capabilities in the Philippines, aligning with its long-term growth objectives in Southeast Asia—a region with annual lubricant sales of 3 million metric tonnes and a 4% growth rate.
Repsol, a Spanish multinational energy and petrochemical company, has expanded its footprint in Asia by acquiring a 40% stake in Unioil Lubricants, Inc. (ULI), the lubricants manufacturing and distribution arm of the Unioil Group of Companies. This strategic partnership aims to bolster Repsol's production and distribution capabilities in the Philippines, aligning with its long-term growth objectives in Southeast Asia—a region with annual lubricant sales of 3 million metric tonnes and a 4% growth rate.
Established in 1966 by the Co family, Unioil has been a significant player in the Philippine lubricants market, evolving from a base oil re-refiner to a manufacturer of its own branded lubricants. The company operates 165 retail stations and four storage terminals across the Philippines.
The joint venture with Repsol, formalized in April 2024, adds a fifth regional manufacturing facility to Repsol's existing plants in Spain, Mexico, Singapore, and Indonesia. As of the end of 2024, Unioil Lubricants' production capacity stood at 25,000 tonnes.
The collaboration aims to leverage both companies' strengths to enhance product offerings and expand market reach. Unioil's established distribution network will grant Repsol immediate access to new customer segments, reinforcing both brands' market presence. This partnership complements Repsol's recent joint ventures with Bardahl in Mexico and United Oil in Singapore, reinforcing its strategic expansion in Asia's lubricants sector.
In a related development, Aramco has signed definitive agreements to acquire a 25% equity stake in Unioil Petroleum Philippines, marking its entry into the Philippine retail market. This move aligns with Aramco's global strategy to expand its downstream operations and retail network, capitalizing on the country's growing demand for high-value fuels.
Overall, Repsol's acquisition of a stake in Unioil Lubricants signifies a strategic effort to strengthen its presence in the rapidly growing Asian lubricants market, leveraging Unioil's established infrastructure and market knowledge to achieve its expansion goals.
The detailed article published by www.bworldonline.com can be accessed from https://www.bworldonline.com/corporate/2025/02/28/656158/spains-repsol-acquires-40-stake-in-unioil-lubricants/?utm
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