Fu­el­ing an Eco­nomic Boom

Newsweek International - - PROMOTION - Pilip­inas Shell Pe­tro­leum Cor­po­ra­tion www.shell.com.ph

By fu­el­ing one in three Filipino ve­hi­cles, re­fin­ing and mar­ket­ing com­pany Pilip­inas Shell Pe­tro­leum Cor­po­ra­tion (PSPC) is a sig­nif­i­cant con­trib­u­tor to the Philip­pine econ­omy and one of the coun­try’s largest in­vestors. It keeps grow­ing, with 2017 earn­ings up 39% ver­sus 2016, but Pres­i­dent and CEO Ce­sar G. Romero is equally proud of the jobs PSPC cre­ates: it has over 700 em­ploy­ees and gen­er­ates work for about 25,000 more. “As we ex­pand, we re­main con­scious of ways to con­tribute to the econ­omy,” he says, not­ing that PSPC is in­vest­ing heav­ily: “We have im­proved our re­fin­ery’s en­vi­ron­men­tal stan­dards and are com­plet­ing a bi­tu­men pro­duc­tion fa­cil­ity. We tra­di­tion­ally in­vest about $20 mil­lion a year in re­tail, but in 2018, we are dou­bling that.”

Listed on the Philip­pine Stock Ex­change, it is 55%-owned by Royal Dutch Shell, which has two other ma­jor Philip­pine in­vest­ments: Shell Philip­pines Ex­plo­ration B.V. and Shell Busi­ness Op­er­a­tions Manila. “Shell is bullish and op­ti­mistic about the coun­try,” wel­com­ing the chance to con­tinue in­vest­ing in its cur­rent sec­tors and re­new­able en­ergy, says Romero. Sus­tain­able de­vel­op­ment is in­te­gral to PSPC and its so­cial arm, PSFI, has helped 12 mil­lion peo­ple. Through its flag­ship project, Move­ment Against Malaria, 42 prov­inces are now malaria-free. It strives to strengthen its in­dus­try lead­er­ship, pro­vide a world-class op­por­tu­nity for share­hold­ers and sup­port na­tion build­ing.

Ce­sar G. Romero Pres­i­dent and CEO Pilip­inas Shell Pe­tro­leum Cor­po­ra­tion

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