Repsol expands presence in Asia with Unioil Lubricants stake
Repsol has strengthened its position in Asia’s growing lubricants market by acquiring a 40% stake in Unioil Lubricants, Inc. (ULI), a move that will boost its production and distribution capabilities in the Philippines. This strategic acquisition aligns with Repsol’s long-term growth objectives in Southeast Asia, a region with annual lubricant sales of 3 million metric tonnes and a 4% growth rate.
Repsol is a Spanish multinational energy and petrochemical company headquartered in Madrid, Spain. It operates across the entire oil and gas value chain, including exploration, production, refining, distribution, and marketing of petroleum products, as well as renewable energy development.
In the lubricants sector, Repsol produces and distributes high-performance motor oils, industrial lubricants, and specialty products, serving both consumer and industrial markets. Repsol has been active in the Philippines for 14 years, and this latest partnership with ULI will further enhance its market share. The agreement, signed in April 2024, adds a fifth regional manufacturing facility to Repsol’s portfolio, complementing its existing plants in Spain, Mexico, Singapore, and Indonesia. Unioil Lubricants’ production capacity stands at 25,000 tonnes as of the end of 2024.
The joint venture aims to expand its reach with a focused sales and marketing strategy. Unioil’s established distribution network will grant Repsol immediate access to new customer segments, reinforcing both brands’ market presence.
The collaboration builds on 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. Unioil, founded in 1966, operates 165 retail stations and four storage terminals across the Philippines, making it a key player in the country’s energy sector.
About Unioil Lubricants, Inc.
Unioil Lubricants, Inc. was founded in 2024 as the lubricants manufacturing and distribution arm of ODC, a company owned by the Co family, which also owns Unioil Petroleum Philippines, Inc.
