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Thai oil firm’s PH unit investing P400M in ’13


PTT Philippines Corp., the local subsidiary of Thailand’s biggest oil firm, is beefing up its presence in the country as it plans to spend about P400 million this year for the expansion of its retail station network.

In an interview, PTT Philippines president and CEO Wisarn Chawalitanon said the company was planning to put up 15 to 20 retail stations in Luzon and the Visayas this year. The oil firm currently has 58 retail stations.

PTT is also evaluating various areas in the country for its additional depots and terminals, Chawalitanon told the Inquirer.

“This will have to be in line with the growth of the retail network,” he added.

According to Chawalitanon, the additional facilities will allow PTT Philippines to be on track to meeting its target to construct 75 to 80 stations from 2012 to 2016, which would cost the company at least P1.5 billion.

Last year, PTT Philippines said it had received the approval of its parent firm, PTT PLC, for its expansion program that would bring the local subsidiary’s network to about 125 to 130 by the end of 2016.

“PTT PLC sees a lot of growth potential in the Philippines. There are many areas of possible investments in the energy sector which our parent company is considering. This is in line with the expansion of PTT PLC in the region,” Chawalitanon said.

Last year, the Department of Energy had asked PTT Philippines to continue expanding its operations in the Philippines, despite the difficulties encountered by industry players in the past.

This move was meant to diversify the local downstream oil industry, encourage stiffer competition and help make fuel prices more competitive, for the benefit of end-consumers.

The number of oil companies operating in the country has grown to more than 240 since the deregulation of the downstream oil industry in 1998. They are categorized as the oil majors (namely Petron Corp., Pilipinas Shell Petroleum Corp. and Chevron Philippines), new players and independent players, data from the DOE showed.

According to the DOE, the deregulation not only led to a tremendous increase in the number of industry players in various business activities, but also brought in P34.67 billion in accumulated investments as of 2009.

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Tags: Energy , expansion , oil and gas , Philippines , PTT Philippines Corp. , Retail , retail stations , Thailand

  • Ronald Diaz

     Let us use our own resources wisely..

  • http://pulse.yahoo.com/_AYITA5V33GYZSLC3G37UCVNTKA Ben

    Now, there is one big problem that the DOE is ignoring and that is how to build a strategic oil reserve? And why we only have two oil refineries in the Philippines one in Limay Bataan and the other one is Tabangao refinery and the other one which is in Batangas ceased operating as a refinery but only imports oil and each one can`t even produce more than 190,000 bbl/d, while Singapore which is the size of M. Manila also have three refineries but each produce more than 280,000 to a maximum of 605,000 bbl/d? It exports refined petroleum products in millions and us only thousands. Compare to Singapore we import more $63.42 billion (2012 est.CIA factbook) than we export $52.17 billion (2012 est.) a deficit in favor of importing than finding ways to reduce our import if we can produce the product here and if we can export morre as China is doing, as Japan did…we are not like America who absorbed almost all imports from around the world and so import exceeded its export more creating humongous trade deficit in favor of other countries especially China.

    Now, this government must nurture our indigenous energy resources such as the Ethanol and CNG production to reduce our import for oil to use domestically and retain more money for this country and at the same time export more refined petroleum products than the raw oil that we produced in Palawan. We can raise the value of the products if refined here for export. But I don`t understand why this government is unable to help keep this country self-sufficient or guiding businesses to level up and acquire new technology, but would rather import more than strengthen our capacity and to be self-sufficient, retain more of our hard earned dollars and export more as processed products than raw, the latter is less in value and by exporting it raw we are denying more jobs to form in this country.

    • http://mikkieugenio.tumblr.com/ Paul Eugenio

      Petron is building one at North Harbor, I think? Even if they already own one in Malaysia.

  • mamamiamia

     Love na Love ko talaga ang Pinas mga amiga!  Go! Go! Philippines!

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