As of May 26, 2022 10:05 AM PNX Petroleum Last Trade Price: 9.21 % Change: -7.9 Volume: 100 Symbol: PNXFind a Station

Phoenix remains PH’s third-largest oil player

Phoenix Petroleum Philippines, Inc. has retained its ranking as the third-biggest oil player in the country according to recent market data of the Department of Energy (DOE).

The leading independent oil company garnered 7.5% of the market in terms of combined fuel and liquefied petroleum gas (LPG) shares.

Phoenix Petroleum president Henry Albert Fadullon stressed that this serves to affirm the company’s determination amidst the still ongoing pandemic.

“Even with difficulties caused by unprecedented calamities, and emerging market and supply chain disruptions, we remain committed to bringing the best product offers and services to our customers and communities”, the Phoenix chief stressed. “This also serves as a testament to the strong resolve of our Phoenix team in driving growth by providing exceptional value at any level.”

The oil firm continues to ramp up its business and promotional efforts across its units, aiming to expand its reach to even more consumers. Last year, the company opened two sites for its new retail model, the Phoenix Block–one along Sucat in Parañaque, and another along Evangelista, in Makati. Each site hosts a Phoenix fuel station, a dedicated Phoenix SUPER LPG space, a FamilyMart store, a Phoenix lubricants shop, and an Autoworx Plus automotive care shop. In December, the first Phoenix station along an expressway was opened at the NLEX Drive&Dine.

Moreover, the company has also been leveraging its digital platform LIMITLESS to promote market offers and discounts, especially during the event of fuel price hikes.

Established in 2002 in Davao City, Phoenix is the first independent oil firm that was listed on the Philippine Stock Exchange. From only five stations in Mindanao by 2005, it now has close to 700 retail outlets nationwide, and has expanded to other businesses including terminaling and hauling services, convenience store retailing, asphalt, car repair and maintenance, and digital transactions, with overseas presence in Singapore, Vietnam, and Indonesia. 

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