The Unioil Group of Companies is pleased to announce the start of operations of its strategic partnership with Repsol S.A., a multinational energy and petrochemical company headquartered in Madrid, Spain. As part of the agreement, Repsol Downstream Internacional, S.A.U., a subsidiary of Repsol, has acquired a 40% stake in Unioil Lubricants Inc. (ULI), the lubricants manufacturing and distribution arm of the Unioil Group.
Unioil, a Filipino company founded in 1966 by the Co family, has been a significant player in the Philippine lubricants market for decades. It began its journey as a re-refiner of base oil and later started manufacturing its own branded lubricants. In 1994, Unioil partnered with Idemitsu, one of the largest Japanese oil companies, to become the exclusive and licensed distributor of their products in the Philippines. Today, Unioil is one of the major local manufacturers of OEM branded lubricants.
With this joint venture agreement, ULI will be responsible for the manufacturing and distribution of a diverse range of products, including Unioil, Idemitsu, and Repsol lubricants. This partnership aims to leverage the strengths of both companies to enhance product offerings and expand market reach.
Manuel Soriano, President of ULI, stated, “We are thrilled to announce this strategic partnership with Repsol. This collaboration not only strengthens our position in the lubricants market but also allows us to offer a wider range of high-quality products to our customers. We are confident that this partnership will drive significant growth and innovation for Unioil Lubricants Inc.”
