Repsol expands its presence in Asia through the lubricants market

^{Unioil and Repsol officials (L-R) Kenneth Pundanera (President, Unioil Petroleum Philippines), Janice Co Roxas-Chua (CEO, Unioil Petroleum Philippines), Sebastian Mussini (Director of Lubricants, Asphalt, Aviation and Specialties, Repsol), and Clara Velasco Alvarez (Director of Lubricants, Repsol)}

• Repsol acquires a 40% stake in Unioil Lubricants, Inc., owned by Oiland Development Corporation (ODC).
• The acquisition allows Repsol to produce and supply lubricants in the Philippines.
• The joint venture adds a fifth regional manufacturing facility to Repsol's existing ones in Spain, Mexico, Singapore, and Indonesia.
• The alliance with ODC provides immediate access to new customer segments.

Repsol has finalized the purchase agreement to acquire a 40% stake in Unioil Lubricants, Inc. (ULI), a company that will produce and distribute Repsol's products in the Philippines. This acquisition will enhance Repsol's footprint in Southeast Asia, a region known for its rapidly growing lubricants market, which boasts annual sales of 3 million metric tons and a growth rate of 4%.

Over the past fourteen years, Repsol has built a strong presence in the Philippines.  Repsol and ULI aim to become one of the top players in the Philippine market by leveraging their combined strengths and capabilities.

This agreement, which was signed in April 2024, adds a fifth regional manufacturing facility to Repsol's existing ones in Spain, Mexico, Singapore, and Indonesia. Unioil Lubricants, Inc. has a total production capacity of 25.000 tons as of end 2024.

The joint venture plans to expand its market presence through a more targeted sales and marketing strategy. The alliance with Unioil will provide immediate access to new customer segments due to the complementary nature of both companies' brands and product lines.

This partnership in Asia complements the joint ventures established in the past five years with Bardahl in Mexico and United Oil in Singapore, laying the groundwork for Repsol's strategic growth goals. 

About Unioil Lubricants Inc.

Unioil Lubricants Inc. was established in 2024 to hold the lubricants manufacturing and distribution business of ODC, a company owned by the Co family, the same owners of Unioil Petroleum Philippines, Inc.