SEAOIL Philippines, Inc. has announced that it has invested PhP 1B this past year to strengthen its oil distribution network with new oil storage depots.  The independent oil firm has opened two depots over the past few months, and will soon formally open its second oil depot in Davao.

With a 40-million liter capacity, the SEAOIL depot in Sta. Cruz, Davao will be Mindanao's largest oil storage facility when it opens in January.  A smaller-sized fuel storage facility in Guimbal, Iloilo was inaugurated for its Visayan operations. In the last quarter of 2012, SEAOIL also inaugurated its Bacolod depot, which is the largest in the Negros and Panay islands with a capacity of 24 million liters.

SEAOIL will now have ten depot facilities across the country, representing a total of 140-million liters of oil storage capacity.  The facilities have boosted employment opportunities in each of its locations, starting from facility construction to depot operations.  The oil company has also become active in community affairs with projects such as the Adopt-a-Mangrove program in Bacolod, as well as series of basic life support and first-aid trainings for the host communities.

SEAOIL has also targeted the establishment of 120 more stations in 2014, above its current network of over 340 stations nationwide.  

The new SEAOIL stations will have 30 locations in the National Capital Region, 20 in Luzon, 30 in Visayas and 40 in Mindanao next year.  

“Our depot and retail network expansions are part of our long-term goal of becoming the Jollibee of the Philippine fuel industry. We have also begun upgrading the overall look and feel of our stations since last year. And this year, we further enhanced the quality of our fuel products to exceed industry standards and customer expectations. Through these product and service enhancements, we are delivering world-class experience to Filipino motorists.” said said Francis Glenn Yu, SEAOIL president and CEO. 

By 2015, SEAOIL expects to have 500 stations nationwide, all bearing upgraded canopy and priceboard designs, plus brighter LED lighting.  The company has undertaken a station upgrade for the past few months.  Coupled with a partnership that brings premium STP additives to enhance all grades of SEAOIL fuels, the company has said the changes would contribute to increasing its market share.
SEAOIL currently puts its market share at 4%, but expects this to rise to 10% with its growing networkk and a number of product and service enhancements.

The oil company said that it was ending the year on a high note.  Following closely on the heels of its STP additives fuel enhancement, SEAOIL launched its own credit card in partnership with Security Bank Corporation.  The bank is the franchise owner of the internationally recognized Diners Club.  The new Diners Club-SEAOIL credit card offers the highest gas rebate in the industry at 7%.  This promo gas rebate will be available until March 12, 2014.  Newly activated cards also get free P500 worth of SEAOIL fuels and a host of other benefits and discounts.

SEAOIL was also declared the recent sole winner of the bid for a two-hectare location along the Subic-Clark-Tarlac Expressway (SCTEX).  The Bases Conversion and Development Authority (BCDA), which is in charge of the project, will enter into a 25-year lease and development agreement with SEAOIL.      

SEAOIL will build its first megastation in the area, complete with parking areas, emergency stations, convenience stores and restaurants.  The SEAOIL megastation in SCTEX will be fully operational by the fourth quarter of 2014.