Aramco, world’s largest oil company, to open first fuel station in PH

Saudi Arabian Oil Company (Aramco), the world’s largest oil producer, is set to open its first branded gasoline station in the Philippines this month.

“From Saudi Arabia to Pakistan to Chile, and now, the Philippines. A legacy of progress and global innovation is making its way to your roads,” the company said.

Aramco acquired a 25% equity stake in Unioil Petroleum Philippines, Inc (UPPI), which operated more than 160 retail stations across the country.

The global oil giant committed approximately P4 billion to fund the expansion of its local network.

The opening of Aramco’s fuel station in Parañaque City on July 16 marks the return of the Dhahran-based company to the country’s retail market after 17 years.

Aramco exited the Philippine fuel market in 2008 after it sold its 40 percent stake in Petron Corp. to British firm Ashmore Group for USD550 million.IMT