Prospector Investments Ltd. and subsidiaries a wholly owned company of the Delgado family has expanded its portfolio to include Isla Petroleum & Energy Holdings, LLC. The company currently owns Citadel Holdings Inc. (Citadel) and IT&E a full service telecommunications company in the Commonwealth of the Northern Mariana Islands and Guam. The most recent addition is Isla Petroleum and Energy Holdings, LLC (IP&E) a retail and commercial supplier of petroleum products on Guam, Saipan and the Republic of Palau with wholesale operations in the Federated States of Micronesia and the Republic of the Marshalls.
The Chairman of Prospector Investments Ltd, Ricardo C. Delgado is one of the leading businessmen of the Philippines. Mr. Delgado took over as CEO in 1984, and has increased the size of the company over the years through organic growth and strategic acquisitions. Mr. Delgado and his son, Jose Ricardo P.R. Delgado, Jr. own Citadel Holdings Inc. (Citadel) a private holding company from the Philippines with investments in aviation services (ground handling and general sales agency), freight management and logistics. Prospector Investments Ltd. subsequently acquired IT&E a full service telecommunications company on Guam and the CNMI. The most recent addition to the portfolio is the formation of Isla Petroleum & Energy Holdings LLC. (IP&E).
The acquisition added the second largest petroleum provider in the Western Pacific to the portfolio of companies maintained by the Delgado family through Prospector Investments Ltd. The services acquired are rated highest among its competitors by consumers and commercial customers. The stations currently attract the largest number of customers per facility of all petroleum providers in the region. With superior consumer and commercial appeal, the company is poised for significant growth. The focus of its forward strategic plan is to utilize the military buildup and the expected organic growth of the economy to expand its leadership position in the industry. IP&E is proud to fuel the energy needs of governments throughout the region with the highest quality petroleum products and lubricants in the world. The company is built upon a foundation of sustainable stewardship of safe and environmentally conscious operations. This is evidenced by the first importation of Ultra Low Sulfur Diesel Fuel in September, 2010 to the Saipan and Guam markets, improving the efficiency and reducing emissions of diesel powered equipment.
The company’s vision is to lead the Micronesian petroleum industry by providing the highest quality products and services available. IP&E will be known as the local company with global reach, providing sustainable solutions to its customers, businesses partners, employees, suppliers and the communities the company serves. To this end, IP&E is known for its robust performance and its commitment to the communities it serves.
In addition to the strength of the Delgado corporate family, Isla Petroleum & Energy recently partnered with Itochu Petroleum Co ( Singapore ) PTE LTD , a wholly owned subsidiary of Itochu Corporation of Japan, one of Japan’s largest trading companies. IPC is a leading trader of fuels worldwide, with headquarters in Singapore.
Itochu, founded in 1858, has become one of the 250 largest corporations in the world according to Fortune magazine. It has diverse interests in Aerospace, Machinery, Mining, Petroleum, Energy, Food, and Chemicals. It was the first large Japanese company to do business in China, and continues to maintain a strong presence in the world’s fastest growing economy. Recently, it has ventured into Green Energy with General Electric to build one of the largest wind farms in the USA. Through its domestic subsidiary, Itochu Enex, it controls over 2000 gas stations in Japan. This year’s revenues for Itochu are forecasted to reach $40 billion USD, and the company expects to net $2 billion USD.
IP&E closely shares Itochu’s philosophy of Sampo Yoshi (Good for buyer, Good for seller, and Good for society). This partnership will allow both organizations to grow together for decades ahead.