Power

PTT inks jet fuel supply agreement with Cebu Pacific

PTT Philippines President and CEO Danny Alabado has high hopes for Thai power firm subsidiary's jet fuel supply agreement with Cebu Air.

The supply agreement, signed by Alabado and Cebu Air Inc.’s Lance Gokongwei, involves the direct importation of about 260 million liters of jet fuel.

The supply agreement, signed by Alabado and Cebu Air Inc.’s Lance Gokongwei, involves the direct importation of about 260 million liters of jet fuel.

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The two companies also signed another agreement for Cebu Air’s domestic consumption of 12 million liters of Jet A-1 in Clark International Airport.

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A similar deal was earlier signed by officials of PTT’s parent company, PTT Oil and Retail (PTTOR), and Cebu Air in Bangkok, Thailand for the provision of about 24 million liters of aviation fuel for refueling of Cebu Air planes at the Hong Kong International Airport.

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Rergsumran said they continue to be aggressive in supplying Jet A-1 to international airports in Asia with the help of PTTOR.

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“PTTOR has a system in place that’s why it’s easy for us to serve international airport in Asia just like the one that we recently signed with Cebu Air for Hong Kong International Airport,” he said.

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PTT Philippines is spending P500 million for capital expenditures this year to an additional 30 gas stations, mostly in Luzon and Cebu, to move them closer to 200 stations nationwide.
(PNA)

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