During the launching of its Partnership for Clean Air: Bantay Kalikasan-Bantay Usok projects with the ABS-CBN Foundation, Seaoil president Glenn Yu said the setting up of at least 12 more stations is part of the company’s five-year expansion program which entails an investment of about P100-million yearly.
Yu said Seaoil spends about P5 million to P15 million per gasoline station depending on the size of the facility.
"We want to continue with our program to make Seaoil more accessible to the public," Seaoil managing director Stephen Yu said, in a separate interview. So far, Seaoil has built 70 stations nationwide, of which 27 are located in the Metro Manila area. Two-thirds of the 70 stations are franchises and the remaining stations are directly-owned by Seaoil.
Company president Glenn Yu said they have yet to "wait and see" what will happen to the oil market following the impending war in the Middle East.
"We are going to study our capital expenditure program based on what scenarios may happen in the international market. We may consider reducing the capex if needed," Yu said. Seaoil currently accounts for about 10 percent of the 12- percent share of the small oil players in the entire downstream oil industry.
According to the company’s managing director, "the market is a little bit squeeze" that is why they need to study every investment they will make.
They said the company once applied to put up a gasoline station along the expressway but decided not to pursue the plan because they want to keep their core business which is a mere gasoline station without other amenities such as restaurants, kiosk, and other facilities. "We cannot justify it. So we decided not to push through with our bid," the Yus said.
Meanwhile, Seaoil said its gasoline products have been complying with the Clean Air Act since November last year with 1.7 percent of benzene level compared to the new specs of two percent and 22 percent aromatics as against new industry standard of 35 percent.
Under the Bantay-Usok campaign, Seaoil will conduct a year-long free emission testing in all municipalities in Metro Manila. The program is expected to start within the month. The company will also be disseminating free in-station collaterals to promote environmental awareness.– Donnabelle Gatdula