MANILA, Philippines – Independent oil player Jetti Petroleum Inc. is looking to launch its P1 billion terminal in Mariveles, Bataan in October this year.
The oil firm said the facility passed the 50 percent construction milestone early this month.
"At this rate, we're looking at launching the terminal by October of this year," Jetti corporate affairs manager Leo Bellas said.
The Bataan facility will store unleaded gasoline, automotive diesel, industrial fuel oil and ethanol products to form nearly 70 million liters in stock.
Bellas said Jetti is also planning to expand its network of about 100 stations nationwide.
"We've started identifying sites for new Jetti retail outlets since May of last year. Provinces being looked at include Bulacan, Pampanga, Tarlac, Pangasinan, Nueva Ejica and La Union,” he said.
The oil company is expecting a sales increase once the terminal and new stations begin operations.
"Since the Mariveles bulk terminal is capable of receiving direct importation, potential profit margin for the company's product sales in Luzon is expected to improve. Net income is likewise expected to rise," said Bellas.