PETROLEUM Company of Jamaica (Petcom) plans to add two more service stations this fiscal year, as it aims to increase its market share in the local petroleum trade to 13 per cent over the period.

The move would grow Petcom’s retail network to 30 stations and help the state-owned entity claim an additional one percentage point over its current 12 per cent stake of the local petroleum market, the Government disclosed in an assessment of public sector bodies for the 2013/14 fiscal year.

Petcom will continue to focus on the more profitable liquefied petroleum gas (LPG) segment, for which it aims to move its stake from 17 per cent to 19 per cent this fiscal year.

“To achieve the growth in market share, the company will employ a number of public relations strategies, including use of social media, and the continued re-branding of its products,” said the report.

Total sales are projected to hit $12.3 billion at the end of the fiscal year ending March 31, 2014, 12 per cent higher than 2012/13 estimates. Profit before tax is projected to be $174 million, compared to an estimated $95 million in 2012/13. The company said it is “cautiously optimistic” that it would meet these projections.

The service stations Petcom operates are either dealer-operated or owned by its parent company, the Petroleum Corporation of Jamaica (PCJ).

The company last year took over the service station at the intersection of Dunrobin Avenue and Constant Spring Road in St Andrew, a prime location previously occupied by the late LG Brown.

The new Dunrobin gas station puts Petcom in a position to benefit at one of the major intersections in St Andrew, which attracts a primary middle to upper-income consumer traffic.

The 24-hour station’s food mart and convenience store easily attracts hundreds of patrons daily.

“This is a great example of the kind of location we are seeking as we continue our expansion drive,” said the company’s general manager, Courtney Lawes, in an interview immediately after the acquisition.

Petcom also plans to increase its number of filling plants from 14 to 16.

Multinational firms Shell, Total and Chevron Texaco, with a combined market share of 72 per cent, dominate the local petroleum trade.

Government has been having difficulties offloading Petcom, which is one of several slated for divestment.

Minister of Science, Technology, Energy and Mining Phillip Paulwell, answering questions from Opposition spokesman on industry, commerce and energy Gregory Mair last year as to whether Petcom should be divested, said the company would have to step up its game first.