Saudi Aramco acquires Primax in South America to expand global energy presence

From Yahoo Finance: 2025-03-24 08:38:00

Saudi Aramco is expanding in South America with the $3.5bn acquisition of fuel distributor Primax in Peru, Colombia, and Ecuador. This aligns with Aramco’s strategy to diversify and strengthen its global energy position, leveraging Primax’s market presence. Aramco’s broader goal is to tap into South America’s growing fuel consumption, with recent acquisitions in Peru and the Philippines. The company is also considering acquiring bp’s Castrol lubricant business, valued at $10bn, to strengthen its presence in fast-growing markets like India. This move highlights Aramco’s commitment to expanding its downstream operations globally.



Read more at Yahoo Finance: Saudi Aramco to expand South American footprint with Primax acquisition