Philippines: Petron Corp Develops Unigue “Bulilit” Service Stations
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Saturday, 22 August 2009 |
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Petron Corp. has opened its low-cost micro refilling stations to
interested investors called Petron "Bulilit" Stations, the retail
outlets would cost somewhere between a few hundred thousand to more
than a million pesos to put up.
The final amount, however, would depend on the market potential of
an area where a proposed Bulilit station would be put up and the
working capital needed for the design of the facility. The
proposed new stations will have only two to three pumps and are smaller
than heretofore Petron stations. The new stations would be put up
in areas deemed by the company as "pioneer growth" locations that may
have relatively small demand at present but have a great potential for
growth.
Petron's new concept station offers investors a low cost alternative to
develop service station outlets under a major brand. Industry sources
said that typical stations that carry big-ticket brands usually run
north of P5 million with returns estimated to take several years to
plow back, depending on location, customer volume and cost.
Petron has the largest number of retail outlets in the country with
over 1,300 stations. It is also the biggest local refiner with a
capacity to process 180,000 barrels of crude per day. Its Bulilit
station is part of the 200 stations the company aims to put up until
the middle of next year. The expansion program was unveiled in June
(See PetrolWorld Archives) after its earnings hit the red because
of volatile oil prices.
PetrolWorld 200809
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