Pilipinas Shell Petroleum Corporation (PSPC) has announced plans to build another import terminal, this time in the Visayas.
This would be the company’s fifth import terminal in the country and is eyed for commercial operations by 2025.
PSPC President and CEO Lorelei Osial said that in order to be more competitive, they need to be on “one major island outside of Luzon and Mindanao.”
Pilipinas Shell Vice President for supply and distribution Kit Bermudez said that the Visayas import facility would allow them to be more competitive in the market they are playing in, saying that “the bigger the vessel that you can import, the more competitive the prices will be.”
Shell recently broke ground for its Darong Import Facility in Sta. Cruz, Davao del Sur, which wuld have a 67 million-liter capacity. The multinational oil giant also owns the 263 million-liter capacity Shell Import Facility Tabanagao (SHIFT) in Batangas City, the 90-million liter capacity Northern Mindanao Import Facility in Cagayan de Oro City, and the 54 million capacity import terminal in Subic.
In a related development, Shell announced that it will realign its priorities for its Php3 to 4 billion capital expenditure rollout, which includes the Visayas import facility.
PSPC Vice President for finance and chief risk officer Reynaldo Abilo said the company would also focus on the build-up of company-owned mobility stations rather than dealer-owed sites, as the latter yields “higher profit for the company because of the full mobility that it brings to the customers.”
