New player Unioil Petroleum Philippines Inc. has set a sales target of 500 million liters, 66 percent more than the 300 million liters sold last year.
The company's optimistic forecast was reinforced when it won a contract to supply a substantial portion of the one-year fuel requirement of the National Power Corp. (Napocor). Unioil cornered a 17.15-percent share (approximately 172 million liters) in Napocor's fuel requirements for the year 2000 worth roughly P1.035 billion.
Last year, it was able to corner a three-month contract also with Napocor for 88 million liters of blended fuel.
Unioil legal counsel and spokesperson Lawrence Luang said the company is looking at a 15-percent increase in income this year.
Luang said the Napocor contract will represent nearly 30 percent of their total sales this year while another 40 percent will come from industrial accounts like the Philippine Airlines (PAL).