Pilipinas Shell Petroleum Corp. (PSPC) plans to build another oil import terminal this year with the goal of bringing its facilities to five this year.
PSPC president Lorelie Quiambao Osial said they plan to have five import facilities by 2022 but did not elaborate.
It is constructing the Darong import facility in Southern Mindanao to provide a more stable, undisrupted supply of energy in the region. The facility has a rated capacity of 67 million liters of petroleum products.
Other terminals are the Shell Import Facility Tabangao (SHIFT) in Batangas with a 263-million-liter capacity; the North Mindanao Import Facility (NMIF) in Cagayan de Oro City with a 90-million-liter capacity; and the Subic Import Terminal, northwest of the National Capital Region, with a 54-million-liter capacity.
“We are building import terminals for us to be more competitive in the market that we are playing in. In the fuels [business], the bigger the vessel that you can import, the more competitive the prices will be,” Kit Bermudez, PSPC vice president for supply and distribution said.
In August 2020, PSPC shut down its 110,000 barrels per day refinery in Batangas due to the pandemic.
The company posted a net income of P3.9 billion in 2021, a reversal of the P16.2 billion loss the previous year.
“In 2021, which was a very remarkable year, we took concrete steps towards recovery and growth in line with our reset and refocused strategy,” said Quiambao-Osial.
More stories on BILYONARYO
