Seaoil formalizes partnership with Caltex Australia


Posted at Mar 02 2018 04:19 PM

SEAOIL 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 are shown in this handout photo

MANILA - Seaoil Philippines said Friday it sealed a strategic partnership with Caltex Australia to help manage its fuel trading and shipping operations.

The Australian company will acquire a 20-percent interest in Seaoil under the partnership, the Filipino firm said in the statement.

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

Seaoil said sales volumes had risen by 47 percent in the last 3 years.