Unioil invests P100-M in M’danao oil depot

Unioil Petroleum Philippines Inc. has put up a P100-million oil depot in Mindanao, a company official said.

Unioil spokeman Lawrence Luang said the company constructed its first service station in Davao City last July.

Luang said Unioil’s oil depot in Davao City, which has a capacity of six million liters, is currently servicing industrial customers while the oil firm awaits the expansion of its gasoline retail network in the region.

As for Visayas, Luang said they are still working out an expansion program for Visayas. "Logistically, we have no plans yet to enter into the Visayas market. Eventually, maybe we will consider it for future expansion," he said.

The company has allotted P220 million to P240 million for the expansion of its gasoline station network in Luzon. It intends to put up 22 to 24 stations within the year. It expects to spend P10 million for each station.

In Metro Manila, Unioil expects to have 12 to 14 more stations by year-end. Six to eight stations are expected to be put up outside the metropolis.

Of the projected 22 to 24 stations this year, 10 are already under construction while 12 to 14 sites have been identified.

At present, Unioil has more than 30 gasoline stations all over the country. So, it expects to have about 50 to 54 stations for 2003.

Luang said they have abandoned plans to put up a service station along the country’s expressways.

"It would be very expensive for us. We have to invest more than P100 million to put up one station in the expressway," he said.

He said competition in the super-highways is also very tough. "Competition will be very stiff considering that the big three oil companies are already operating in these areas," he said. – Donnabelle Gatdula