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MANILA – Chevron Corp. will expand its Caltex retail network in the Philippines – the company’s biggest in Southeast Asia - by another 200 in the next five years.
"We’ve been in Philippines for over 75 years so our focus is on reinforcing our business and growing it and more and more of that growth is going to come from local partners, local investors who can really benefit from partnering with Caltex," Shahid Ahmed, Chevron-International Products Asia-Pacific general manager for sales and marketing, said.
Chevron-International Products markets the Caltex brand of fuels and lubricants of Chevron Corp.
The Philippine expansion is part of the 500 fuel stations the company plans to put up across Asia where it already has 2,000 Caltex outlets.
The Philippines, Thailand and Malaysia comprise Chevron's largest markets in the region, with the latter two countries each having 400 Caltex stations.
"Philippines is actually the largest market that we operate in across Asia so it’s a very large focus for the business, it has a lot of regional attention and a lot of regional support," Ahmed said.
The planned expansion in the Philippines is aimed at taking advantage of the country’s improving economy, he said.
Despite this, the growing number of unbranded fuel stations - which can command lower prices than their multinational rivals - remains a concern for Chevron.
"What’s really important is for the brand like Caltex, you are guaranteed an international quality product that meets international standard. My biggest concern is there are a lot of expansion that does not meet international quality standards. So when you take your very expensive car and you go to an outlet that is cheap unbranded fuel, you cannot guarantee the quality," Ahmed said.
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