PTT plans Philippine retail expansion

PTT Philippines will expand its retail network in the Philippines by another 10-20 petrol stations. Artasith Pothiapinyanvisuth, executive vice president for commercial and international marketing at PTT, said the company would spend about Php8 million (US$167,381) per outlet, depending on the size of the facility. Artasith said the company would also build a mega-station along the Clark Expressway in northern Luzon. PTT officials said that the company was also looking at opportunities for supplying jet fuel to airlines. It currently supplies jet fuel to Cebu Pacific Air, Philippine Airlines and Federal Express. Earlier, PTT Philippines President and CEO Siripong Phoungpaka assured the Philippine government that the Thai oil giant would continue expanding its retail network in the Philippines this year. To date, PTT Philippines has 16 petrol stations. In the next five to 10 years, it expects to open 100-200 more nationwide. PTT had earlier pledged to spend Php5 billion (US$104.61 million) over five years starting last year. (April 5, 2007)