By Juzel L. Danganan
MANILA, Feb. 5 (PNA) — Under a signed deal, PTT Philippines will supply Cebu Pacific with 225 million liters of Jet A-1 fuel for this year, worth Php 5 billion.
”The estimated Php5-billion contract was signed recently between PTT Philippines President and Chief Executive Officer Sukanya Seriyothin and her Cebu Air counterpart Lance Gokongwei,” PTT said in a statement Thursday.
She noted the signed supply contract is higher by 40 percent, compared to the total 155 million liters or 13 million liters per month contract signed in 2014.
PTT said the deal is on-top of the December deal for the jet fuel supply at the Diosdado Macapagal International Airport, with a monthly avarage of about 120,000 liters for Cebu Pacific and 200,000 liters for Tigerair.
Also present during the recent contract signing were PTT Philippines Trading Corp. general manager Danilo Alabado, Cebu Air Vice President for Fuels and Cargo Operations Joseph Maccaga, PTT chief finance officer Patrinee Suphontana, PTT PR manager Vittaya Viboonterawud, and PTT Aviation marketing manager Nomer Talibong.
PTT said it has been supplying Cebu Air with jet fuelfor the last 15 years.
Presently, it has been feeding 70 percent of Cebu Pacific’s total jet fuel requirements.
Aside from commercial distribution, PTT Philippines is into the retail business, holding a portfolio of 75 retails stations that are scattered in Metro Manila, North Luzon, Central Luzon, South Luzon and Cebu.
PTT Oil Business Unit Senior Executive Vice President (SEVP) Khun Chavalit Punthong earlier said the firm would stick to its current trading locations in the country, and has no plans yet to expand to Visayas and Mindanao.
The Thailand government-owned subsidiary plans to divest Php 3 billion in the next five years for 70 more gas stations in the Philippines.
PTT Philippines Corp. (PTTPC) is one of the wholly-owned subsidiary companies in the Philippines of PTT Public Co. Ltd. (PTTPLC), a Thai government-owned firm. It has been operating in the country since 1997.
PTT is engaged in the primary business of marketing refined petroleum products and lubricants, which are focused on three major sectors – retail, wholesale and commercial markets. (PNA)