Saudi Arabia's Aramco has signed an agreement to acquire a 25% equity stake in Unioil Petroleum Philippines, the company said in a statement late on Wednesday. The company, however, did not disclose financial details of the transaction.

Saudi Arabia’s Aramco, one of the world’s largest petroleum and integrated energy companies, is acquiring a quarter of shares in Unioil Petroleum Philippines.In a statement, Unioil announced it has entered into definitive agreements with Aramco regarding the Saudi oil giant’s “strategic investment” in the Philippine fuel retailer.

Saudi oil giant Aramco plans to revive its presence in the Philippine market by acquiring a 25-percent stake in Unioil Petroleum. Aramco is known as one of the

Saudi oil giant Aramco is returning to the Philippine market after nearly two decades, this time via a buyout of a 25-percent stake in the Co family-led Unioil Petroleum Philippines Inc.

Aramco is set to acquire a 25% stake in Unioil Petroleum Philippines, marking a significant step in the company's strategic downstream expansion and growth of its global retail network.

Saudi oil giant Aramco is making its way back to Philippine shores through a planned acquisition of a 25-percent stake in Unioil Petroleum. This move came almost 17 years after Aramco exited Petron Corp.