Petron Builds 1,000th Service Station
Makati—(PHStocks)—Leading oil refining and marketing company Petron Corporation (PSE: PCOR) marked another milestone as it recently built its 1,000th service station under its four-year old network expansion program, bringing the total number of Petron stations in the country to nearly 2,100. The 1,000th Petron service station under the program is located in Guiuan, Samar.
Building an average of 250 stations each year for four years is a record in the Philippine oil industry. Began in 2009, Petron’s network expansion program is instrumental in increasing the company’s market presence and in maintaining its leadership position. At present, Petron has the most extensive retail network in the industry – bigger than two of its closest competitors combined.
“Petron is in a period of unprecedented growth and expansion. Our network expansion program ensures that Petron’s premium products and services are more accessible to our countrymen, anytime, anywhere,” Petron Chairman and CEO Ramon S. Ang said.
The program is anchored on the pioneering micro-filling or “Bulilit” station concept – an easy-to-build station that can start with a few dispensing pumps but easily expandable as demand grows. The expansion helps empower Filipino entrepreneurs by giving them an opportunity to partner with a company they trust. Much needed employment is also generated, especially in rural areas, where the new stations are located.
“While we see our service station expansion program as a means to further reach out to our customers, we also view this as a manifestation of our commitment to nationbuilding, one service station at a time,” Ang concluded.
At the end of 2012, Petron had 34.5% of the highly-competitive retail market.