PTT Philippines and the country’s largest budget carrier, Cebu Pacific, have sealed a petroleum supply deal, with the Thai-owned oil firm committing to deliver the bulk of the Gokongwei-owned airline’s aviation fuel requirements for the year.
In a statement, PTT Philippines said the agreement was formalized on Tuesday between its president and CEO, Sukanya Seriyothin, and Cebu Air CEO Lance Gokongwei involving the 2017 supply contract for 1,680,000 barrels or 267 million liters of aviation fuel.
PTT Philippines has been supplying jet fuel to Cebu Air for over 10 years and currently accounts for most of the airline’s total jet fuel requirements.
PTT has been in the Philippines for 20 years now and is also into the fuel retail business with more than 100 service stations spread across Luzon and in Cebu.
Recently, it diversified into non-oil business with the introduction to the Philippine market of its coffee shop chain, the Café Amazon, that originated from Thailand.
Apart from Seriyothin and Gokongwei, other executives present during the signing ceremony were Thitiroj Rergsumran, marketing director of PTT Philippines; Danilo Alabado, general manager of PTT Philippines Trading Corporation, and Joseph Macagga, vice president for fuel, procurement and facilities management of Cebu Air.