MANILA, Philippines — American oil major Chevron Philippines Inc. has finished a $3.1-million (approx. ₱175-million) upgrade of its Lapu-Lapu Terminal in Cebu, significantly boosting the region’s fuel security and storage capacity.
- Capacity Increase: The facility can now store up to 150,000 barrels of fuel.
- Global Access: The upgrade allows the terminal to handle both domestic and international fuel trade. In fact, it recently received its first import vessel carrying fuel products from South Korea.
- Strategic Role: The terminal serves as Chevron’s primary gateway to Central Visayas, supplying the energy needs of Cebu’s booming manufacturing, transportation, and tourism sectors.
Pongtorn Tangmanuswong, chair and general manager of Chevron Philippines Inc., stated that the investment is a clear signal that the company is “here to stay.”
- Wider Network: This project is part of a broader mission to ensure reliable fuel access across the country. Chevron currently operates nearly 600 Caltex retail stations nationwide.
- Lease Renewals: The upgrade follows the renewal of lease agreements last April for Chevron’s key terminals in Batangas, La Union, Davao, and Cebu.
- Aviation Supply: Beyond retail, Chevron remains a major supplier of jet fuel for both Ninoy Aquino International Airport (NAIA) and Mactan-Cebu International Airport.
The expanded storage capacity is expected to provide more opportunities for local retailers and businesses that depend on a steady supply of fuel, especially as global oil markets remain volatile due to ongoing international conflicts.
