Pilipinas Shell Petroleum Corp. said Friday that it opened an import facility in Subic to expand its ability to supply fuel to northern Luzon.
“The facility, strategically located to enhance access to Regions I, II, III, and the Cordillera Administrative Region, is an addition to Pilipinas Shell’s network of terminals and complements the two existing import terminals – Tabangao and NMIF (North Mindanao Import Facility),” the company said in a statement.
Pilipinas Shell recently converted its shuttered Tabangao, Batangas refinery into an import terminal.
The new Subic facility can handle medium-range vessels capable of transferring to shore facilities up to 54 million liters of finished product. “This allows the company to maximize its efficiency and minimize its transshipment costs,” it said.
Pilipinas Shell President and CEO Cesar G. Romero said that he remains optimistic that the company will strengthen its presence in the fuel business “ahead of Asia’s anticipated bounce-back in fuel demand.”
On Friday, Pilipinas Shell rose 2.07 % to P19.76. — Angelica Y. Yang