OIL refiner and distributor giant Pilipinas Shell Petroleum Corp. (PSPC) is planning to augment its service station network in the country by putting up 50 to 70 more stations next year.
“We will put up 50 to 70 next year. This is the investment we have set aside every year,” Pilipinas Shell President and Chairman and Cesar G. Romero told reporters in an interview.
Pilipinas Shell, the local unit of energy company Royal Dutch Shell plc, currently has 966 service stations in the country.
Romero said 40 percent of the new stations will be located in Luzon and 60 percent will be in the Visayas and Mindanao.
The capital expenditure for every station depends on the size, Romero said. For a big station, the investment could reach anywhere from P25-40 million while for a small station, it is around P20 million.
“That’s company owned and we spend like that because we have high standards for our Shell stations,” he said.
PSPC also is looking to invest in the renewable energy (RE) sector and is considering to create a new holding company for its RE investments in the country.
“We’re considering that, either a holding company or if it can be housed somewhere,” Romero said.
“We’re scouting for opportunities. But globally we have declared that as a global priority for us. Scouting for RE, in general. We’re prepared to use a number of platforms depending on what may be a commercially viable opportunity,” he said.
But he added that going into RE is “very much still in the early phase” but it is one of the priorities of Royal Dutch Shell Group.