Connect with us

Hi, what are you looking for?


Pilipinas Shell eyes P20-B budget for next 5 years

New business model calls for more ‘mobility’ sites, import terminals

By Angelica Y. Yang, Reporter

PILIPINAS Shell Petroleum Corp. is looking at investing up to P20 billion in the next five years to fund, among others, the construction of oil import terminals and more “mobility sites” as the listed company shifts to a new business model.

“P15 to P20 [billion] over the five-year period… In terms of investment, we are hoping that we will be able to continue with our investment profile of anywhere between P3 to P4 billion per year for the next five years,” Pilipinas Shell President and Chief Executive Officer Cesar G. Romero said in a media briefing on Wednesday.

He said the company plans to infuse funds in creating new mobility businesses, which are considered to be “very profitable.”

Pilipinas Shell said in a press release issued on Wednesday that it is shifting its retail business model from gas stations to mobility sites, which have more customer-centric offerings.

“Alliances with international and local brands, coupled with full vehicle servicing such as car wash and oil change lounges, will turn each mobility station into a one-stop community hub,” the company said.

The mobility sites, which will not only cater to cars and vehicles, aim to offer e-mobility to cyclists and pedestrian customers.

Mr. Romero was quoted as saying that the firm plans to open up 60 to 80 new mobility sites per year to reach its target of 1,500 sites by 2025.

In the media briefing, Mr. Romero said that “around 60% of the planned investment” will typically go to its new mobility sites.

According to Reynaldo P. Abilo, Pilipinas Shell’s director, treasurer, vice-president for finance and chief risk officer, said that the P20-billion investment over the next five years will also cover the construction of new import terminals.

“We will be funding [the investment] through our own cash-generated funds from our operations,” Mr. Abilo said during the media briefing. He added that the firm recently disclosed that it had around P60 billion in borrowing capacity or untapped credit lines.

Pilipinas Shell has three import terminals — in Subic, Batangas and Mindanao — and hopes to add two more in five years’ time, Mr. Romero said.

The oil company, the country’s second-largest in terms of market share, earlier reported a P16-billion net loss last year due to one-off charges that came with the transformation of its Batangas refinery as well as the global decline in crude oil prices.

Mr. Romero previously said that turning the refinery into an import facility was a “difficult but crucial decision given the negative outlook for the refining sector, which was worsened by the global health emergency.”

Shares of Pilipinas Shell in the local bourse improved 0.99% or 20 centavos to close at P20.50 each on Wednesday.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!



About 10% of Poundland products are no longer priced at £1, the discount retailer has said. Poundland moved away from pricing everything at £1...


The BT-owned mobile operator EE is to start charging UK customers to use their phones in Europe, having previously said it had no plans...


Government plans to restrict junk food advertising on television and online have been criticised by campaigners who say they contain too many exemptions to...


Deliveroo scored a fresh victory in the legal fight for its riders to be recognised as self-employed yesterday when the Court of Appeal ruled...


Foreign holidays in the Balearic islands, Malta and Madeira were given the go-ahead last night despite threats from the European Union to close the...


StackLeague is the country’s 1st year-round competitive programming league launched last March 16 and now with over 3,000 programmers in the league. This pioneering...

You May Also Like


Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...


As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...


US President Joseph R. Biden, Jr., will rely on ally countries to supply the bulk of the metals needed to build electric vehicles and focus on...


THE Securities and Exchange Commission (SEC) has warned the public from investing or to stop any investment in a group named Maxxprofit Computer Trading...

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!