Shell’s corporate presence in the Philippines commemorated with a new issue
FindYourStampsValue.com is glad to inform that Philippines Postal Service has released a series of stamps dedicated to Shell's corporate presence in this country. The issue consists of four stamps that were put into circulation on the 14th of December.
Shell's corporate presence in the Philippines dates back to 1914 when Shell organized a trading office in the Philippines. Business then largely involved the importation and sale of kerosene mainly for household use in Manila and outlying areas. By 1940, spurred by the growing Philippine economy, a sizeable range of Shell products was being sold to more areas in the Philippines through installations and depots set up in strategic points throughout the country.
In 1960, Shell built its first crude refinery in Tabangao, Batangas, which commenced operations in 1962. This made Shell a complete downstream business engaged not only in trading, transport and distribution, but also in the manufacture and refining of petroleum products. The birth of the refining era was accompanied by further business expansion.
In the late 1970s, Shell began its involvement in upstream activities (oil and gas exploration and production) to reduce the country's dependence on imported oil. To meet the rising demand for liquefied petroleum gas (LPG) in Asia, Shell began in the early 1980s the construction of a refrigerated LPG terminal that would supply domestic LPG needs of the Philippines and its Asian neighbours.
The first of its kind in Asia, Shell's refrigerated LPG terminal began operations in 1983. In the conduct of its business, Shell has always been conscious of its obligations to society. In 1982, Shell formed the Pilipinas Shell Foundation, Inc. to begin its direct participation in social development through industrial and agricultural skills training, livelihood and entrepreneurship training, promotion of science and technology education, and other community development programs around Shell work sites.
Shell began in 1993 the construction of a bigger and more modern refinery adjacent to its existing facility in Tabangao. Completed in 1995, the 110,000 barrels per day refinery boosted Shell's refining capacity to 155,000 barrels per day, becoming Pilipinas Shell's share in helping the country move forward to a better future as envisioned in the government's Philippines 2000 program.
This 1998, SPEX begins the development and construction of the Malampaya field for the commercial production of natural gas in the country by the year 2002. The gas-to-power project is seenas the largest and most significant investment in the history of Philippine business, with a total financing requirement of approximately US$2.0 billion.
It is expected to generate a substantial income for the Philippine government over the life of the field, reduce reliance on imported fuels from 20% to 30%, and provide an alternative environment-friendly fuel for power generation.