Chevron to build 100 Caltex stations in Thailand

Chevron Corp. will open 100 Caltex service stations in Thailand within the next three years, despite the fluctuation in global crude oil prices. “After we add 100 stations within three years, we expect our market share to increase by 3 percentage points from 10% currently,” said Adrian Bendeck, Chevron’s country chairman and general manager for products. Each station will cost between US$500,000 and US$1 million depending on the location, size of the outlet and its facilities and features. Bendeck said the company is welcoming individuals to invest in the stations. The company currently operates 470 stations across the country. Chevron sees its sales volume growing this year by 2-3%. (January 27, 2012)