Shell Pilipinas Corp. (SPC) will keep its 2026 capital spending budget at around P2 billion to P3 billion, with most of the funds allotted for upgrading import terminals and fuel infrastructure nationwide.
SPC finance vice president Reynaldo Abilo said 55 percent of the budget will go to trading and supply operations, similar to last year’s allocation. He added that the company may end the year spending near the lower end of the range as it manages costs amid volatility and uncertainty in the energy market.
Meanwhile, SPC president and chief executive officer Lorelie Quiambao Osial said the company understands the government’s temporary intervention in fuel price adjustments during the energy emergency, but warned that prolonged price controls could affect investor confidence.
Osial said market-based pricing remains important in a deregulated industry, stressing that investors value policy clarity, consistency, and stability. She added that SPC supports measures that protect consumers while still encouraging long-term investments in energy infrastructure.
The company said it will continue working with government regulators to promote transparent and time-bound solutions that balance consumer protection with a stable business environment.
