Terpel has set a goal to grow fuel sales by 5% this year, building on impressive growth of 14.5% in 2013.
Vice President of Commercial Fuels Tony Quintero Mejia revealed the plans, noting that 2013's results gave the company a market share of 43.2% in retail distribution and nearly 70% in the aviation sector. The company recorded revenue of approximately $14bn during the period.
Terpel has renovated 371 fuel service stations nationwide over the past year, Mejia added, and plans investment of $100m in network improvements in the next three years. "The strategy we have today is to focus on three fronts, one of which is the infrastructure, including renovation of the stations of service , we closed the year with 371 interventions and must conclude 2014 with 500," he said.