SEAOIL to open 41-M liter oil depot in Davao, biggest in Southern Mindanao

SEAOIL Philippines Inc. is doubling the capacity of its storage facility in Southern Philippines, starting Saturday, March 15, when it opens the largest oil depot in Southern Mindanao. 

 

The P500-million, 41-million liter facility in Davao can serve the needs of 200 fuel stations.

 

"We invested P500 million for this depot alone,” chief operating officer Stephen Yu told reporters in a briefing on Thursday. “We saw the need for the construction of a new liquid bulk storage terminal to serve the growing demand for fuel products in the Southern Mindanao area," he said. 

 

Plans are afoot to maximize the depots capacity by building a hundred stations in three to four years to expand the SEAOIL stations now numbering 360, of which 100 are in Mindanao. 

 

Yu the company needs to invest P1 billion to build the 100 stations.

 

SEAOIL operates 10 oil depots and terminals in the Philippines, with a combined storage capacity of 160 million liters. – VS, GMA News