Shell Pilipinas Corp. on Tuesday bared setting aside P3 billion as capital expenditure this year in an economy it projects growing at a fairly accelerated rate of 5.8 percent in terms of the gross domestic product (GDP) from last year’s 5.6 percent.
The capital spending, Shell Pilipinas treasurer, vice president for finance and chief risk officer Rey Abilo said, is structured to boost its terminal facilities and widen its so-called mobility footprint.
According to Abilo, around half of the budget is dedicated to “improving the asset integrity and the efficiency of our terminals across the country, particularly our main one which is the Tabangao import facility.”
The other half will be spent on “enhancing the mobility footprint” or the brand’s retail network, he quickly added.
The enterprise reported lower net income last year of only P1.2 billion it attributed to high domestic interest rates and to a decline in global product prices.
Inflation, effectively a tax on business and household incomes, also averaged higher to six percent last year versus only 5.8 percent the year prior, it noted.
This year, however, Shell Pilipinas projects inflation moderating to only around 3.6 percent.
Abilo also bared plans to add up to 25 additional stations this year. Shell Pilipinas rounded 2023 with 1,179 mobility stations.
The enterprise is also keen on pursuing additional facilities that support electric vehicles at its mobility stations across the country. Shell Pilipinas has over 25 charge points in eight locations at present.
Shell Pilipinas is also ramping up the use of more renewable energy in everyday operations and has two electric vehicle charging stations powered 100 percent by renewable energy at the South Luzon Expressway Mamplasan and at Seven NEO BGC in Taguig City.
Other charging stations at the Tarlac-Pangasinan-La Union Expressway are partially powered by renewable energy via on-site solar equipment.
