By Bangkok Bureau
Last Update: 6:37 AM ET Jul 20, 2007
BANGKOK (MarketWatch) — A Thai unit of Royal Dutch Shell PLC plans to renovate its 570 retail gasoline service stations over the next three years at a cost of up to THB1.14 billion ($34 million).
The upgrade aims to boost sales and raise market share to 18% in two years from the current 16.2%, said Simon Hirst, general manager for retail sales and operations at Shell Company of Thailand Ltd.
The company will initially renovate 50 stations in the second half of this year, at a cost of over THB100 million, Hirst told reporters Friday.
During January to May, Shell’s sales of gasoline and diesel products in Thailand totaled 1.1 billion liters, down 3% from a year earlier.
The fall in sales was in line with a decline in retail gasoline consumption in Thailand as rising oil prices have curbed demand.
During the first five months of this year, national consumption of gasoline and diesel totaled 6.753 million liters, down 8.9% from a year earlier.
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