Shell To Roll Out ₱20-billion Expansion In PH In 5 Years

With prospects of economic rebound in the immediate term that will then shore up demand for fuel commodities in the domestic market, listed firm Pilipinas Shell Petroleum Corporation (PSPC) will be rolling out investments of ₱15 billion to ₱20 billion to underpin its growth strategy in the next five years.

- Myrna M. Velasco

Pilipinas Shell President and CEO Cesar G. Romero told reporters in a briefing that the yearly capital outlay will be ₱3 billion to ₱4.0 billion, which has always been congruous to the investment growth trajectory set out by the company even prior to the pummeling of the COVID-19 pandemic.

Top in the oil company’s investment lineup will be 60 to 80 mobility stations annually to beef up its retail network growth (a combination of new builds and enhancements); and two more medium-range (MR) import terminals which will be prospectively sited in Visayas and Mindanao; or even in the North (Luzon) area, depending on how fuel demand growth will shape up in the immediate term.

“In terms of investment, we are hoping that we will be able to continue with our investment profile of anywhere between ₱3.0 billion to ₱4 billion per year, so it’s just consistent,” Romero qualified.