Chevron wraps up $3.1-M Cebu fuel terminal upgrade
American oil giant Chevron has completed the $3.1-million upgrade for the Lapu-Lapu Terminal in Cebu, enabling the facility to accommodate domestic as well as international fuel trade.
The group on Wednesday said the investment boosted the facility’s storage capacity to 150,000 barrels. Just recently, the terminal received its first import vessel, loaded with products from South Korea.
The terminal serves as the group’s gateway to Central Visayas, delivering the fuel needs of growing sectors in the province, particularly manufacturing, transportation and tourism.
Increasing the facility’s capacity will likewise provide opportunities for interested retailers and fuel-dependent businesses.
“Our investment in the Lapu-Lapu terminal is a sign that Chevron is here to stay and will continue to boost the capacity of our other local terminals,” said Pongtorn Tangmanuswong, chair and general manager of Chevron Philippines Inc.
“We want to move more safe, quality Caltex fuels around the country. This is part of our wider mission of ensuring that all corners of the Philippines have access to a reliable fuel and energy source,” he said in a statement.
In April last year, the firm renewed its lease agreements with Batangas Land Company Inc. for four properties that cover its terminals.
These are sites in San Pascual, Batangas; Lapu-Lapu, Cebu; San Fernando (Poro), La Union; and Sasa, Davao City.
Chevron has nearly 600 retail stations across the Philippines, carrying the Caltex brand of fuels and lubricants.
The firm also supplies jet fuel for airlines at the Ninoy Aquino International Airport and the Mactan Cebu International Airport.
