Philippines: Total Oil to Expand in Cebu

Ernst Wanten, Total Philippines president and managing director, said the expansion is a clear manifestation that they still find the country a good investment area considering the problem that hit the oil industry. This, in particular the implementation of Executive Order 839, which freeze the price of fuel for a month due to the typhoons Ondoy and Pepeng.

Wanten said Total is looking around eight to 10 retail stations in Cebu and allocating P100 million for this projects. The first station is expected to be completed this December while the remaining nine are expected to be finished by 2010. "We're building now our first service station and will be opened shortly before Christmas. In the next six months, we'll build three and before the end of 2010, we're thinking of having built 8-10 stations. Its around Cebu," he said.

He added that they will build an oil terminal in the province. The oil depot will have a capacity of 2 million liters, which is expandable. But Wanten explained they would continue their expansion program in Luzon. "Focal point is of course still Luzon at the moment all our service stations are there and it's a market where there still opportunities," the Total executive said.
Total have been in the country for 12 years.

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