Unioil Group of Companies has entered into a strategic partnership with Repsol S.A., marking a significant move in the Philippine lubricants market. Under the agreement, Repsol Downstream Internacional, a subsidiary of the Spanish multinational energy and petrochemical company, acquired a 40 percent stake in Unioil Lubricants Inc. (ULI), the lubricants manufacturing and distribution arm of Unioil.
Unioil, a key player in the Philippine oil industry since its founding in 1966, has long been a major force in local lubricant production, first as a base oil re-refiner and later as a manufacturer of branded lubricants. The company expanded its portfolio through a partnership with Idemitsu, a prominent Japanese oil company, in 1994. Now, with Repsol’s strategic involvement, Unioil aims to leverage enhanced manufacturing capabilities and broaden its product offerings, including Unioil, Idemitsu, and Repsol lubricants.
The partnership is expected to boost ULI’s competitive edge, creating opportunities for increased market penetration and innovation. Manuel Soriano, President of ULI, expressed confidence in the collaboration, emphasizing that the alliance with Repsol would not only strengthen ULI’s market position but also deliver a broader selection of high-quality lubricants to customers.
This joint venture positions both Unioil and Repsol to take advantage of the growing demand for premium lubricants in the Philippines and expand their commercial footprint in the Southeast Asian market.
