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Thai oil firm PTT Philippines is setting aside over ₱1.5 billion worth of investments to expand its operations in the country until 2030.
In a briefing on Friday, April 11, PTT officials said the company is planning to increase its stations in the Philippines, aiming to reach 280 fuel stations within the next five years.
Athiwat Rattanakorn, president and chief executive officer of PTT Philippines, stated that the company aims to improve its nationwide presence, particularly focusing on building more stations in Luzon and Visayas.
Currently operating 170 stations throughout the Philippines, PTT plans to not only boost its pumping stations but also increase the brand’s presence.
The firm has also introduced a reformulated line of fuel brands, namely Power+ gasoline, Eco+ gasoline, Ultra+ diesel, and Save+ diesel.
“This is going to redefine high-performance fuels as they are intended to improve driving experience not only in terms of mileage but also the cleaning and protection formula for the engine to last longer,” Rattanakorn said.
Apichate Thipphayakosai, supply and logistics director of PTT Philippines, clarified that while they’re only aiming to add around 110 stations, they’re focused on the aviation industry.
“We don’t go aggressively on the number of stations… We have to invest effectively in terms of that one,” he told reporters. “But one other thing that can be the mainstream of revenue of PTT Philippines is aviation. We can say that [for] most of the domestic flights.”
Aside from expanding its filling stations, PTT is planning to integrate renewable energy (RE) in their operations, specifically through solar power.
“We plan to install in every station that we have, [but] it depends on the size of the station as well. The total number offer is one megawatt (MW), and we’re looking for three MW this year,” Thipphayakosai said.
Despite solar technology becoming increasingly cost-effective, he explained that solar integration may be complicated for some locations due to access limitations.
“The good sign is that the price [of solar] is going down since last year… The rough number per megawatt is ₱70 million to ₱80 million per megawatt-peak (MWp),” he added.
