To propel organic growth, newly renamed Shell Pilipinas Corporation will roll out fresh capital outlay of P5 billion to P6.0 billion this year for the expansion of its mobility stations and other service-offers. In a briefing with the media, Shell Vice President for Finance and Chief Risk Officer Reynaldo P. Abilo emphasized that “for 2023, we are planning to invest the same level - around P5 billion to P6 billion,” and that is comparable to the P5.6 billion capital spending that the company had done last year. He stated that the bulk of the capital outlay will be funneled into growing the firm’s mobility network at a scale that will reach 60 stations this year. “We will continue to grow our footprint profitably by about 40 to 60 sites; and at the same time, we are going to refresh some of our existing sites in order for them to have more and broader kind of mobility offer for our customers. We’re also ramping our investments in our supply chain,” Abilo said. He expounded “we’re going to invest 40-percent in there to make sure that our assets remain competitive and reliable in order for us to deliver on the demand and requirements of our customers.” The company executive added part of the capex spending buildup they will pursue will be to complete the targeted loop of mid-range import facilities that they are strategically siting in various parts of the country. “We are on track in terms of having five (5) medium-range import facilities across the country by 2025,” Abilo specified, noting that three of these assets are already operating, while the fourth one is under construction and the siting of the last one will soon be unveiled. “Our fourth import facility, which is going to be located in southern Davao, we have broken ground there in 2022 and we expect that to be completed by 2024,” he conveyed. On the forward business trajectory of the company, Shell Pilipinas President and CEO Lorelie Quiambao-Osial indicated that while their core business still rests primarily on fuels with underpinning from their non-fuel ventures, the differentiating factor will be the company’s integrated corporate value to contribute to a low carbon economy. “We’ll certainly contribute to a low carbon world and we will contribute to net zero emissions; and that will be at pace with society. So what that means is: for the Philippines, we will work hand in hand with the different sectors, as we do that journey,” she stressed. The company’s share to global decarbonization goals, she said, will be anchored on offering its customers high quality fuels, asserting further that “we are here to provide superior value, not just on our products but also on our services, and we’re also looking at other opportunities.” Osial qualified that dropping ‘petroleum’ in the company’s corporate name “does not say it is a departure from, but it just broadens where we are heading as a company to go beyond petroleum – and that for us, is recognizing that we keep looking at our customers and what the needs of the customers are – now and in the future.”