PHOENIX NOW 3 RD BIGGEST IN MARKET SHARE

Global oil giant chevron has finally become just one of sundry players in the Philippine petroleum market 17 years after the shutdown of its refinery in Batangas province, with two independents overtaking the American firm in domestic market share.

Based on the Department of Energy’s (DOE) latest semestral Oil Supply/demand Report, Phoenix Petroleum Philippines Inc. has dislodged Chevron— which owns the Caltex-branded fuels—from the third spot with a 6.82-percent share of the market.

Petron, now the Philippines’ only crude oil refiner, remains on top with 24.88 percent of the market. Global oil giant Shell, which recently announced a permanent shutdown of the country’s only other refinery, is still second with 18.25 percent.

Also, Unioil Petroleum Philippines Inc. sent Chevron to fifth place as the local firm claimed 6.48 percent of the market, leaving the foreign brand with 6.13 percent.

According to the DOE, the domestic market represented a demand for 10.8 billion liters of petroleum products in the first half of 2020.

“The data is as of Aug. 20, 2020, and is subject to change prior to submission of industry players’ revised reports,” the DOE said in its report.

Even then, Phoenix said the data on market share affirmed the results of the brand market study that showed the Davao-based company as “an emerging and credible brand alternative” to the big players.

“Despite the continuing challenges of COVID-19, we are grateful for the continued patronage of our loyal as well as new customers who appreciate the value that we provide,” Phoenix president Henry Albert Fadullon said.