Saudi ARAMCO to expand the South American imprint with Primax acquisition

ARAMCO Saudi Arabia is scheduled to expand its presence in South America by acquiring the PRIMAX fuel, which works in Peru, Colombia and Ecuador.

The value of the acquisition is estimated at about $ 3.5 billion, according to a report he presented ReutersQuoted from Peru newspaper administration.

The acquisition of Grupo Romero, which runs 2,185 gasoline stations in the three countries, is compatible with the ARAMCO strategy to diversify its wallet and enhance its location in the global energy market.

By obtaining Primax, Aramco aims to take advantage of the market presence for the distributor and get to know the brand in the region.

The deal is part of the broader ARAMCO strategy to benefit from fuel consumption in South America.

Aramco refused to comment on the transaction, and PRIMAX and Grupo Romero did not immediately respond to the suspension requests.

Aramco’s acquisition of PRIMAX follows the purchase of a minority stake in Peru Lng from Hunt Oil Company last year.

The move enhances Aramco’s presence in Peru and highlights its commitment to expanding its operations towards the river course in the world.

In February, Aramco reached agreements on Get 25 % share in Unioil Petroleum PhilippinesFuel operator was established in 1966.

Taking into account the organizational clearance, the deal is compatible with the broader Aramco strategy to enhance its global presence in the direction of the river.

UNIOIIL is a major player in the estuary sector for the Philippines, with a network of 165 retail stations and four storage stations.

The acquisition process seeks to take advantage of the increasing demand for the outstanding fuel in the Philippines.

And according to what the company was reported, the company Get Castrol BP lubrication work from BPWith a value of about 10 billion dollars (7.72 billion pounds).

BP explores the Castrol section options, including a possible sale, as part of a strategic review.

Castrol’s evaluation is estimated at $ 6 billion and 8 billion dollars, according to Panmure Liberum for investment banking services.

Aramco’s interest in Castrol is mainly focused on its strong presence in fast -growing markets such as India, where Castrol India is estimated at $ 2.5 billion (RS24.04 billion).

“ARAMCO Saudi to expand the imprint of South America with the acquisition of Primax” originally created and published by Marine technologyThe brand owned by Globaldata.

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