Saudi oil giant Aramco is set to open three additional fuel stations in the Philippines, BusinessWorld Online reported, citing company disclosures. The expansion brings Aramco's total retail network in the country to eight stations, reflecting its continued investment in the Philippine downstream oil market.
Aramco entered the Philippine retail market in 2017 through a partnership with local firm Northern Star Energy Corp. The new stations are expected to be located in strategic areas across Luzon, though specific locations were not disclosed. The move aligns with the company's goal to expand its downstream footprint in high-growth Asian markets.
The Philippines, which relies on imports to meet most of its oil requirements, remains a key growth market for international fuel retailers. Aramco's expansion comes amid rising demand for petroleum products and government efforts to liberalize the downstream oil industry through the downstream oil industry deregulation act.