Chevron Philippines Inc. said Tuesday the introduction of its latest fuel technology will help boost sales of the Caltex brand as the company embarks on an aggressive retail expansion program.
Chevron Philippines launched the new Clean & Glide technology whose active ingredients are specifically designed to clean and protect metal surfaces within the engine. It will be available across all gasoline grades at Caltex stations starting July 1.
“We expect an increase in sales [from the launch of the new product]. It’s not gonna be a huge amount, but it’s more about continuing to offer high-quality products to the growing number of motorists,” Chevron Philippines country chairman Peter Morris told reporters.
The Clean & Glide technology infused with Techron fuel helps reduce friction, thus enhancing engine protection, improving fuel economy and maximizing power.
Morris said Chevron would put up 32 new retail stations this year as a part of its ongoing expansion program. The company currently has a 15-percent market share.
“We have just around 700 stations across the country…We’re going to add about 30 service stations in 2016. That’s right across the country, evenly spread across the country, a few here in Metro Manila. There’s certainly quite a few in growth areas like Mindanao and provincial areas in the Visayas,” Morris said.
He said Mindanao could be a growth area for the Caltex brand especially under the Duterte administration. Of the company’s 700 stations, around 150 stations are located in Mindanao.
“Certainly as mayor, he enabled Davao to grow in a good way. But we’ve seen growth across the entire region, through the agri exports and broadening of the economic base. It’s happening certainly in Mindanao and the Visayas and not to mention Metro Manila,” he said.
Morris said about 25 percent of the 32 new stations would be located in Mindanao. Morris did not give investment costs.
He said the company would service the new retail stations from existing oil depots.