Seaoil on track to open 95 new stations this year

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Independent oil player Seaoil Philippines Inc. opened 25 new stations in the first quarter of this year as part of its bid to open 95 stations this year.

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Seaoil recently launched its 340th station in Negros Occidental, sustaining its leadership as the country’s largest independent oil player.

The oil firm also met its target with the opening of 25 stations in the first quarter of 2013.

“The steady and consistent growth of the company is a solid testament to our dedication to customers and our belief in empowering Filipinos through franchising,” Francis Glenn Yu, Seaoil president and chief executive officer, said.

According to the Filipino oil company, its franchise package and its numerous franchise support programs have contributed considerably to the expansion of its retail network.

“The Seaoil franchise program is the most affordable in the country,” Yu said, adding that the investment for a station starts at P2 million.

After spending P1.13 billion in 2012 for network expansion, Seaoil said that it plans to grow the number of its stations across the country by 400 this year and 500 “soon.”

Yu said that Seaoil aims to end this year with 400 filling stations. It currently has 340 stations, some of which are still undergoing construction.

He said that the firm plans to grow its network by 500 “as soon as possible.”
Yu also said that Seaoil intends to expand in all regions in the country, adding that the firm’s cash flow remains very strong.

Madelaine B. Miraflor

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