Total says JV to double PHL market share
TOTAL S.A. and local oil firm Filoil Energy Co., Inc. have agreed to enter into a joint venture (JV) that is expected to expand the fuel sales business of the French-led oil company in the Philippines.
“The synergy from Total’s operational expertise and Filoil’s excellent nationwide logistics will propel our growth in the Philippine market,” said Francois Dehodencq, senior vice-president of Total Marketing and Services and head of Total’s downstream business in Asia-Pacific, in a statement yesterday.
The partnership, which will create a marketing firm and a logistics company, will still be subject to approval of government authorities.
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