Shell Philippines Lines Up Capital Projects

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Researched by Industrial Info Resources (Sugar Land, Texas)--Shell Philippines Corporation (Manila, Philippines), a subsidiary of Shell plc (NYSE:SHEL) (London, England), plans to significantly boost its capital expenditures, with up to US$3 billion earmarked for this year. The company will complete a new petroleum import terminal this year, followed by another in 2026, and will upgrade its terminals nationwide, including the Tabangao import facility in Batangas. Shell Philippines reported a first-quarter profit of US$1.4 billion, indicating a strong recovery from pandemic-related losses.

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