Dubai oil firm eyes Philippines depot

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Dubai oil firm Kampac International plans to invest in a multi-billion dollar depot project in the Philippines, according to a report in south-east Asia.

Manila Standard Today reported that the company, through its Kampic Oil Middle East subsidiary, planned to distribute and sell oil throughout the region with the Philippines at its distribution hub. The depot is located near the boundary of Quezon and Laguna provinces.

A source told the newspaper that Kampac CEO Charlie Ampofo had met with Philippines president Beningo Aquino III to discuss the project. Ampofo is due to return to the country next month in order to finalise the project, it said.

Bilateral trade between the Philippines and UAE amounted to $2.16bn in 2012.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Petroleum producers shift attention from Middle East: Kemp

Petroleum producers shift attention from Middle East: Kemp

Following four decades of war, sanctions, nationalisation and...

Back in business

Back in business

Iran’s tankers are back on the oceans as sanctions on the Islamic...

A new future for Saudi Arabia?

A new future for Saudi Arabia?

The vast Wadd Al Shimal phosphate mine in the north of Saudi...

Most Discussed
  • 9
    UAE teens among the highest for obesity rates

    @MT3 I forgot to add that of course this is assuming that the UAE moves toward a single payer model, something that I think has never been considered ... more

    Thursday, 28 August 2014 8:36 PM - Telcoguy
  • 9
    Smoke-free Dubai - the big debate

    Surprisingly the only studies that show a negative financial impact of the smoking ban on the hospitality industry are sponsored by tobacco companies ... more

    Wednesday, 27 August 2014 4:19 PM - Telcoguy
  • 3
    Former Arabtec CEO says wants over AED5 per share

    Investors are tired and losing confidence in the market, only speculators are making money at the cost of shareholders. How could any one put a price on... more

    Thursday, 28 August 2014 8:36 PM - B.Sainani