Jetti Petroleum to inaugurate fuel terminal in Bataan
Philippine-based Jetti Petroleum Inc. is set to inaugurate its fifth and largest fuel terminal in Mariveles, Bataan on northern Luzon island this week, which will improve the company’s fuel import capabilities and support its retail expansion on the island of Luzon.
The terminal will complement Jetti’s main import terminal in Tagoloan, Misamis Oriental in the island of Mindanao in southern Philippines. The Tagoloan terminal supplies products to Jetti’s other terminals located in Mandaue City, Cebu and Iloilo City, Iloilo in the Visayas island, as well as in Naic, Cavite on Luzon island.
Last September, Jetti beefed up its investment in the Bataan terminal to PHP 1.5 billion (USD 33.1 million) from the initial PHP 1 billion (USD 22 million) investment, to further boost its fuel storage capacity through the development of a second phase. The first phase of the project has a total storage capacity of nearly 70 million liters and will store a variety of petroleum products, including unleaded gasoline, automotive diesel fuel, industrial fuel oil and ethanol. The second phase will add 1.5 hectares to Jetti’s existing two-hectare site.
The project was granted a five- to seven-year income tax holiday and other incentives by the Board of Investments, following the endorsement by the Department of Energy (DOE) under the Philippine Downstream Oil Deregulation Act. Jetti Petroleum is one of several independent oil players to come into the scene with the passage of this law.