Repsol acquires stake in Unioil Lubricants

The deal is part of a bigger strategic partnership between both companies to enhance the Unioil’s lubricants offer in the Philippines.

The Unioil Group has announced the start of operations of its strategic partnership with Repsol, with the latter acquiring a 40% stake in the Filipino company’s manufacturing and distribution arm for lubricants. 

With this joint venture agreement, Unioil Lubricants Inc. (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.

"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," said Manuel Soriano, President of ULI. 

Founded in 1966 by the Co family, Unioil 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, the company is one of the major local manufacturers of OEM branded lubricants.