Shell sets P4.29 billion capex for 2018

Pilipinas Shell Petroleum Corp. has earmarked P4.289 billion as capital expenditure for 2018 to cover the year’s outlay for its retail as well as its manufacturing and supply businesses, the listed reported to the stock exchange.

In its detailed information statement submitted on Thursday, the company also disclosed its target capital expenditure for 2019 and 2020 at P3.903 billion and P4.196 billion.

“Capital expenditure for retail principally relate to the planned establishment of new retail service stations,” the company said.

For 2018, the company reported setting aside P2.636 billion for retail, with manufacturing and supply spending placed at P1.653 billion.

For this year, Pilipinas Shell said it expects to fund the planned capital expenditures “using cash generated from operations.” — Victor V. Saulon