INDEPENDENT OIL company Jetti Petroleum, Inc. expects to spend around P1.2 billion to establish 80 more stations to achieve its target of 300 stations by 2026, its president said.
“We are embarking on completing or having available 300 stations and, initially, we’re targeting by early 2026; but, of course, we based this on our business review,” Jetti President Leo P. Bellas told reporters during the inauguration of the company’s business center on Monday.
The funding will be mostly financed by banks, with a portion from internally generated funds.
For context, building a four-pump, two-island station would require about P15 million, Mr. Bellas said.
“For this year, we are confident that we can complete and operate an additional 40 stations. So that would bring the number to 260 by December 31, 2025,” Mr. Bellas said.
At present, the company has 220 stations spread nationwide, with a concentration in Luzon and Mindanao.
Its portfolio includes the Jetti Macapagal Building, a six-story business center located at the corner of Diosdado Macapagal Boulevard and Coral Way in Pasay City.
The company resumed operations of its flagship retail station in Pasay City in 2023 after temporarily closing it for renovation for almost four years.
“The reason why we also did this inauguration is because finally the whole ground floor is occupied and they’re operating,” Mr. Bellas said.
The Jetti Macapagal Building features retail outlets and premium office spaces for lease.
“The Jetti Macapagal Building stands as a testament to Jetti Petroleum, Inc.’s dedication to progress, community engagement, and service excellence. It reflects the company’s commitment to not only fueling vehicles but also supporting the aspirations of the people and businesses it serves,” the company said.
Jetti started operations of its first retail service station in 1999 and opened the Macapagal flagship station in 2004. The company began the conversion and renovation works of the property to make it a complex with a gas station in 2019. — Sheldeen Joy Talavera
