Thai Oil Giant Expands Operations in RP

PTT Philippines Corp. (PTTPC) will expand its retail network in the Philippines by another 10 to 20 gas stations, a top company official said.

In a media briefing here, PTT executive vice president for commercial and international marketing Artasith Pothiapinyanvisuth said the company would spend about P8 million to construct one retail gas station, depending on the size of the facility.

But he said they are not yet at liberty to identify the proposed locations for the stations but hinted that they would be situated in major cities in Luzon and the Visayas.

The company will also be putting up a mega-station along the Clark expressway, he added.

PTT is considering the Philippines as one of its focus areas in terms of investments in Southeast Asia.

Earlier, PTT Philippines president and CEO Siripong Phoungpaka assured the Philippine government that the Thai oil giant would continue the expansion of its retail network in 2007 as part of its optimism on the prospects of the country’s oil industry. (ABS-CBN News)