Chevron has recently completed its $3.1 million (around P185.3 million) upgrade to its terminal at Lapu-Lapu City in Cebu. The facility can now accommodate 150,000 barrels, or approximately 24 million liters. This should bring in an additional $1 million (around P59.5 million) in value to the terminal.
Along with a deeper capacity, Chevron Lapu-Lapu is now equipped to accommodate import vessels and load domestic ships. The MT Chang Hang Fei Yue Voy No. 2518 was received as the terminal’s first import vessel, as it turned over products from South Korea.
Overall, the upgraded terminal aims to support fuel supply across Central Visayas. With a more reliable supply, Chevron believes it can support manufacturing, transportation, and tourism throughout the region.
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Amid uncertain fuel costs and availability across the country, Chevron assured its Philippine constituents that it will continue to provide its services. “Our investment in the Lapu-Lapu terminal is a sign that Chevron is here to stay and will continue to boost the capacity of our other local terminals,” said Chevron Philippines general manager and country chairman Pongtorn Tangmanuswong.
“We want to move more safe quality Caltex fuels around the country. This is part of our wider mission of ensuring that all corners of the Philippines have access to a reliable fuel and energy source.”
Over the last year, Chevron, which markets the Caltex brand of fuels and lubricants, renewed its property leases in key areas in the Philippines. These include Batangas, La Union, and Davao City.
