Jetti sets aside P100M to open more branches
By Amy R. Remo
Independent player Jetti Petroleum has set aside at least P100 million to further expand its retail network to a total of 120 gas stations by yearend.
Independent player Jetti Petroleum has set aside at least P100 million to further expand its retail network to a total of 120 gas stations by yearend.
With a new name that is still unfamiliar even to its old customers, Solane is counting on enhanced client service to reestablish itself in the liquefied petroleum gas (LPG) market, even increase its market share.
Seaoil Philippines, an independent fuel retailer, is spending another P1.1 billion this year to further expand its retail network. The goal is to reach a total count of 400 stations by the end of 2013.
Petron Corp., the country’s largest oil refiner and distributor, is set to issue dollar-denominated securities to raise additional funds, on top of the $500 million it raised in February this year.
As high oil prices and improved efficiency force refineries in the US and Europe toward closure, the industry is shifting toward the Middle East and Asia in a move fueled by a thirst for energy among emerging economies.
Hong Kong-based Energy World Corp. Ltd. has temporarily put on hold the construction of its proposed P9-billion liquefied natural gas (LNG) hub terminal and regasification facility in Quezon due to concerns raised by the provincial government.
The energy ministry of Brunei Darussalam has expressed interest to put up liquefied natural gas (LNG) facilities in Mindanao, including the construction of a 300-megawatt gas-fired power plant to serve as an anchor load.
Crude prices were lower in Asian trade Wednesday with weak US growth data and debt worries in Europe weighing on the market, analysts said.
Local oil companies have slashed prices of petroleum products starting Sunday to reflect significant movements in the global oil market.
MANILA, Philippines—Six oil companies belonging to the Philippine Institute of Petroleum (PIP) said they would “open their respective books” if asked to do so, amid allegations of overpricing and cartel, and calls for greater disclosure from the downstream oil players. In a statement issued Sunday, PIP said its member companies—Chevron (Philippines) Inc., Liquigaz Philippines Corp., [...]
SINGAPORE – Crude prices were mixed in Asia Tuesday as traders cheered on a Franco-German debt rescue commitment and exports from oil-producing Kuwait were disrupted, analysts said. New York’s main contract, light sweet crude for delivery in November, was up 18 cents to $85.59 per barrel. Brent North Sea crude for November delivery dipped 14 [...]
Oil was down in Asian trade on Monday following a slump in US job creation as well as soaring Chinese inflation rates, analysts said.
