Saudi Aramco, the world's top oil producer, has bought Primax, a Peruvian fuel distributor, for $3.5 billion, giving Aramco control over 2,185 fuel stations across Peru, Ecuador, and Colombia.
This move expands Aramco's reach into South America's growing energy market. The Romero family, a Peruvian business powerhouse, launches Primax in 2002, selling its first gallon of fuel.
They buy Shell's Peruvian fuel arm in 2004 alongside Chile's ENAP, building a regional giant. Now, Aramco takes over this network, including 180 Listo convenience stores in Peru and Ecuador.
Aramco pays $3.5 billion, securing Primax's 11 storage terminals, five LPG plants, and Shell lubricant rights. This follows their 2024 purchase of Chile's Esmax, showing a clear southward push.
Yasser Mufti, Aramco' executive, calls Chile a gateway for downstream growth in the region. Primax grows fast, jumping from 120 stations in 2004 to over 2,100 by 2025, dominating Hispanic South America.
Full story Peru’S Primax Sells To Saudi Aramco, Shifts South America’S Fuel Game
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