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Sunday, March 24, 2019

Seaoil seals partnership with Australia's largest oil firm

THE strategic partnership between Seaoil Philippines, the country’s largest independent fuel player, and Caltex Australia Ltd was recently sealed with a contract signing, wherein the Australian company will acquire 20 percent interest in Seaoil.

In the photo are Seaoil's Chairman Francis Yu and CEO Glenn Yu and Caltex Australia’s CFO for Fuels and Infrastructure Douglas Darley and Executive General Manager for Fuels and Infrastructure Louise Warner.

In the agreement with one of the region’s largest independent downstream fuel companies, Seaoil will be managing their fuel supply via Caltex Australia’s fuel trading and shipping business, Ampol Singapore.

Seaoil looks forward to increasing their market share locally, as well as expanding new business lines and introducing new products.

In the last three years, the company has experienced 47 percent sales volume growth in the diesel market and expects to capitalize on substantial opportunities with this new partnership. (PR)

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