Chevron reveals expansion plans in Philippines

U.S.-based Chevron Corp. is aggressively expanding its presence in the Philippines, with the company planning to build at least 100 retail stations in five years.
“The Philippines plays a major role in Chevron International Product’s growth plans in Asia-Pacific. As the company’s biggest retail network in Asia-Pacific, the Philippines represents 23% of the region’s retail network growth plan,” said Katrina Ignacio, assistant manager for policy, government and public affairs of local unit Chevron Philippines Inc.
This number may further increase as the company firms up its network expansion plans, she said.
Construction of a typical retail site would cost about Php10 million (US$244,369) and another Php3 million (US$73,310) to Php5 million (US$122,184) in monthly working capital. This places the total investment requirement for the 100 planned stations at about Php1 billion (US$24 million).
She did not specify how many of these planned sites will be company-owned and -operated and how many will be franchised.
As of the end of 2012, Chevron Philippines has 750 retail sites. It sells a range of petroleum products, including fuels, lubricating oils and greases. The company also has 14 facilities, including terminals, depots and sales offices in the Philippines. Its import terminal in San Pascual, Batangas province, serves as the hub of its transportation and supply operations in the Philippines. (February 25, 2013)