The Thai-led oil firm PTT Philippines recently announced that it will expand its operations in the country over the next five years with P1.5 billion worth of investments, according to a Manila Bulletin news report. The expansion includes putting up new fuel stations.
To put things in perspective, posted below is an excerpt from the report of the Manila Bulletin news report. Some parts in boldface…
In a briefing on Friday, April 11, PTT Philippines officials said the company is eyeing to increase its fuel stations to 280 within the next five years.
Athiwat Rattanakorn, president and chief executive officer of PTT Philippines, stated that the oil firm aims to improve its nationwide presence, particularly focusing on establishing more stations in Luzon and Visayas.
Currently operating 170 stations throughout the Philippines, PTT plans to not only boost its pumping stations but also increase the brand’s presence.
The firm has also introduced a reformulated line of fuel brands, namely Power+ gasoline, Eco+ gasoline, Ultra+ diesel, and Save+ diesel.
“This is going to redefine high-performance fuels as they are intended to improve driving experience not only in terms of mileage but also the cleaning and protection formula for the engine to last longer,” Rattanakorn said.
Apichate Thipphayakosai, supply and logistics director of PTT Philippines, clarified that while they’re only aiming to add around 110 stations in the next five years, they’re focused on the aviation industry.
“We don’t go aggressively on the number of stations… We have to invest effectively in terms of that one,” he told reporters. “But one other thing that can be the mainstream of revenue of PTT Philippines is aviation. We can say that [for] most of the domestic flights.”
Let me end this post by asking you readers: What is your reaction to this recent development? Do you think this new plan by PTT will make the Philippines a more attractive destination for foreign investors? Is there a PTT fuel station near you right now?
You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.
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