Shell Pilipinas Corp. on Tuesday said it has earmarked up to P3 billion for its capital expenditures this year, which will mostly be spent to boost its asset integrity and widening its mobility footprint across the country.
In a virtual briefing, Shell chief financial officer Reynaldo Abilo said the company is looking to spend between P2 to 3 billion this year, as the company seeks to reduce its spending through working capital optimization.“About 50% of that will be dedicated in improving the asset integrity and efficiency of our terminals across the country, particularly our main one which is Tabangao Import Facility,” he said.
“We aim to be a major player in the energy industry and we want to continue elevating industry governance standards and advance energy transition at base with society,” she said.“We will capture new opportunities and carry out our sustainability initiatives purposefully and profitability as we play a key role in a balanced energy transition,” she added.
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