Oil company PTT Philippines signed a new contract to supply most of Cebu Pacific’s jet fuel requirements this year.
PTT Philippines president and chief executive Sukanya Seriyothin and Cebu Pacific Air president and chief executive Lance Gokongwei signed on Tuesday the jet fuel supply contract for 2017 involving 1,680,000 US barrels or 267 million liters of aviation fuel.
“We are always grateful to have partnered with Cebu Air. Our partnership has been growing stronger that is anchored on trust, loyalty, and commitment to provide the best and quality products and services that we could afford them,” Seriyothin said.
PTT Philippines has been supplying jet fuel to Cebu Air for over 10 years and currently accounts for most of the airline’s total jet fuel requirements especially for flights using the Ninoy Aquino International Airport, Diosdado Macapagal Airport and the Visayas route.
PTT has been in the Philippines for 20 years and is also into retail with more than 100 service stations spread across Luzon and in Cebu. Its wholesale business also serves the maritime industry.
It diversified into non-oil business with the introduction to the Philippine market of coffee shop chain Café Amazon that originated from Thailand.
PTT Philippines announced plans to invest P5 billion to expand its retail network to 300 stations over the next five years.
The company sees an 11-percent average volume increase annually over the five-year period.
The company opened this year its biggest station in the Philippines”•the two-hectare PTT SCTEx in Concepcion, Tarlac.
The SCTEx station is PTT’s second platinum station in the Philippines next to PTT Lucena that opened last year. A platinum station has much bigger land area and is designed with a park concept similar to Thailand’s platinum stations.
PTT’s parent company, the state-owned PTT Public Company Limited, is Thailand’s largest oil company.