PTT Philippines Earns Mainly Through Diesel Brand for 2013

(PNA) — PTT Philippines has earned mainly through the diesel brand, having sold 384 million liters of the product last year.

”We have sold diesel at 384 million liters in the Philippines last year,” Public Relations Manager Vittaya Viboonnterawud told reporters Friday at the PTT Public Company Limited (PTT Plc) Office in Chatuchak, Bangkok.

Moreover, he also mentioned the JET A1 was the next demanded product for the same period, selling a huge 267 million liters to airline companies.

On the other hand, products which were sold on a smaller rate are gas ships at 48 million liters, bunker oil at 26 million liters and lubricants at 1 million liters.

Based on the company’s annual report for 2013, PTT Plc. has earned a total 1.65 million BAHT under its oil business unit and international trading business unit.

Specifically, its flagship business in the Philippines called Subic Bay Energy Co Ltd has grossed 21,172.93 BAHT, significantly lower than 2012’s income of 22,180 BAHT.

In the Philippines, PTT holds a market share (retailer or gas stations) of about two percent, however, it noted that sales to independents have also contributed significant income to the company.

Currently, PTT Phils has opened 73 stations in the archipelago, mainly based in Luzon and Visayas, while there are no gas stations in Mindanao. It has previously aimed to bring the figure of gas stations to 140.

Viboonnterawud also shared that the company is more focused on the branding or having its presence felt in the Philippines.

On this move, PTT will hire a brand ambassador in the country. Although there is still no shortlist, the ambassador will be named next year.

Specifically, PTT Philippines aims to reach the middle class sector, since most of its customers drive tricycles and jeepneys.

PTT noted it has entered the Philippine market mainly due to the invitation of the Philippine government.

In an exclusive interview, Viboonnterawud told PNA that PTT’s five-year plan for the Philippines will be approved in the incoming week. It will include the company’s sales target for 2015.

Two other local firms are having discussions with the company for joint business investments.

Also, although the natural gas in the Gulf of Thailand will run out in 20 years time, Viboonnterawud mentioned that there are still no plans to expand to Mindanao or invest in service contracts in the area.

Despite of these there are no plans yet, he said, but the company holds talks with the Philippine National Oil Company (PNOC) to check on possible investments.

PTT Plc has formerly utilized service contracts (SC) in the South of Te Giac Trang field, Vietnam; Montara, Indonesia and the Leismer Field in Canada.

Moreover, it has been developing projects in Algeria and Mozambique, with the former estimated to undergo commercial production during the last quarter of 2014 and the latter undergoing detailed evaluation.

Four other exploration projects are also gaining traction in Myanmar, while there are two more based in Algeria and Kenya. (PNA) CTB/JLD

Image Credit: wikimapia.org