Total and Philippine oil Company Filoil have agreed to create a joint venture for the fuel sales business in the Philippines.
The combined business will grow Total’s network from 206 to 442 stations and its retail market share from three percent to six percent.
The joint venture will also benefit from a strong supply infrastructure throughout the archipelago.
“The synergy from Total’s operational expertise and Filoil’s excellent nationwide logistics will propel our growth in the Philippine market,” explained Francois Dehodencq, Senior Vice President of Total Marketing & Services and head of Total’s downstream business in Asia-Pacific.
“This partnership allows Total to continue its development in Asia-Pacific and brings to 1,700 the number of service stations we have in the region,” he added.
The partnership will create a marketing company and a logistics company and is subject to approval of Government authorities.
Signatories to the partnership agreement,(L-R): Chito Poblete, VP Operations Total Philippines, Dilip Vaswani Managing Director Total Philippines, Francois Dehodencq, SVP Total Marketing & Services Asia Pacific, Raffy Villavicencio, CEO Filoil Energy Corporation, Olivier Chalvon-Demersay, VP Operations Total Oil Asia Pacific, Manuel Gonzalez, Legal Counsel Filoil Energy Corporation