With more than 90 years in the Philippines, Chevron's investments and operations have made important contributions to developing the country's energy and petroleum industry.
Chevron started working in the Philippines in 1917 when The Texas Co. – later, Texaco – began marketing its products through a local distributor. Texaco Philippines was formally established in 1921 and opened an office in Binondo, Manila.
In 1936, a joint venture between The Texas Co. and Chevron's predecessor, Standard Oil Co. of California, created Caltex, which then took over marketing operations in the Philippines.
Eleven years later, Caltex converted its Pandacan warehouse depot in Manila into its first distribution terminal in the country.
In 1954, Caltex inaugurated the Batangas Refinery at San Pascual, the first petroleum refinery in the Philippines. In 2003, this refinery was converted into a finished-import terminal, with a storage capacity of at least 2.5 million barrels.
In 1971, Chevron Geothermal Philippines Holdings pioneered – in partnership with the Philippine government – the commercial development of geothermal resources.
In 1998, Chevron established Chevron Holdings Inc.
In 2001, Chevron and its Malampaya project participants delivered the country's first commercial gas supplies to power generation plants, meeting around 30 percent of the country's power needs.
Economy
The Malampaya deepwater gas-to-power project is expected to provide the Philippines with significant revenue over the life of the project. This will support the government's economic development programs and help build the necessary infrastructure to foster financial growth. The project also is expected to generate direct and indirect employment for more than 20,000 people.
Chevron's natural gas and geothermal projects reduce the country's dependence on imported fuel through the use of clean, indigenous and reliable energy. These projects' combined capacity of more than 3,300 megawatts accounts for more than 30 percent of Luzon's power supply needs, helping spur its economic development.
Updated: March 2009