Jetti Petroleum's Bataan terminal 50% complete

Independent oil player Jetti Petroleum Inc. on Thursday said its P1-billion fuel terminal in Mariveles, Bataan is 50 percent complete since early this June.

 

The new terminal is expected to be finished within the year, said Leo Bellas, Jetti Corportate Affairs manager, in an e-mailed statement.  "At this rate we're looking at launching the terminal by October of this year," he added.

 

With its 70-million liter capacity, the Bataan depot will store unleaded gasoline, automotive diesel, industrial fuel oil and ethanol. 

 

The company expects the bulk terminal to boost the expansion drive across Luzon, saying it already looked at new retail sites in Bulacan, Pampanga, Tarlac, Pangasinan, Nueva Ecija and La Union last May.  

 

Jetti currently has about 100 operational stations all over the country.

 

Once the Bataan terminal and the new stations come on stream, Jetti expects the new volume to increase sales – create an opportunity to pursue bulk sales in Luzon with the availability of various petroleum products.

 

 “Since the Mariveles bulk terminal is capable of receiving direct importation, potential profit margin for the company’s product sales in Luzon is expected to improve. Net income is likewise expected to rise,” Bellas said. 

 

 “This will also help make the market players more competitive, as it will bring pricing to more reasonable levels, to the advantage of the motoring public,” he added. – Janelle Cosino/VS, GMA News