Total Phils sets P500-M expansion

Total Philippines Corp. (TPC) plans to invest about P500 million in its Manila oil terminal as part of its aggressive expansion program in the country.

During the inauguration of the two-hectare oil depot, TPC president and managing director Jeff Attwood said they have already invested some P280 million for Phase I of the oil facility while another $4 million or more than P200 million will be spent next year and in 2005.

"With the completion of our Manila oil terminal, Total is all geared up to corner a bigger share of the Metro Manila fuel market," Attwood said.

Attwood said the Manila oil warehouse is the company’s second biggest investment after the P1-billion oil terminal and distribution facility in Bataan which has a capacity of 58 million liters.

With its initial nine million liters (57,000 barrels) fuel storage facility expandable to 28 million liters, the Manila oil terminal is expected to serve the requirement of Total’s expanding retail networks and major industrial accounts in Metro Manila and nearby provinces.

"The full commissioning of the Manila Oil Terminal fortifies Total’s position as an aggressive player in the oil industry. This makes the company ahead of the pack of other oil players because Total is now primed and ready to lead in the cutthroat competition," he said.

Attwood said the oil facility will serve at least 60 service stations, more than 2,000 LPG liquefied petroleum gas retailers and 200 lubricant manufacturers.

Energy Secretary Vincent S. Perez said with this development, Total is now being considered the fourth largest oil player in the country today.

"Total is not a small player anymore. We can say that we have a Big 4 now. Total has been very aggressive in the local market," Perez said.

Total is a subsidiary of Total S.A., the world’s fourth largest oil and gas company operating a network of more than 16,000 service stations in more than 120 countries.