Manila, Feb. 20 -- One of the world's largest integrated energy and chemicals companies, Aramco, is re-entering the Philippine market by acquiring a 25 percent stake in Unioil Petroleum Philippines, Inc.

The companies announced Wednesday that they signed an agreement for the partnership, led by Aramco Asia Singapore managing director Fai Aldossary and Unioil chief executive officer Janice Co Roxas-Chua.

The planned acquisition is subject to customary closing conditions, including regulatory approvals.

Aramco, which is 90 percent owned by the government of Saudi Arabia, is making a comeback in the Philippines as it aims to take advantage of the increasing demand for high-value fuels in the country.

"This investment represents another s...