TotalEnergies has reaffirmed its commitment to the Philippine market, albeit with a strategic shift in its business operations.
The company recently completed the sale of its shares in its fuel marketing joint ventures—Total Philippines Corporation (TPC), Filoil Logistics Corporation, and La Defense Filipinas Holdings Corporation—to its long-standing local partner, Filoil.
In an official statement, TotalEnergies clarified the nature of the transaction: “TotalEnergies completed the sale of its shares in its fuels marketing joint ventures in the Philippines – Total Philippines Corporation (TPC), Filoil Logistics Corporation, and La Defense Filipinas Holdings Corporation – to its existing local partner, Filoil, one of the leading independent oil players in the Philippines.”
“Following the acquisition, the three companies are now fully owned by the Filoil group, which will retain the right to operate under the Total brands for up to three years. Existing TotalEnergies activities, including Trading, Renewables, and Global Services, will continue to operate in the Philippines and remain unaffected by this transaction,” the company added.
This move reflects TotalEnergies’ evolving business strategy, emphasizing its focus on Trading, Renewables, and Global Services within the Philippine market.
The company’s continued involvement in these sectors, particularly in advancing renewable energy solutions, underscores its commitment to supporting the Philippines’ energy transition and long-term growth.
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