PHOENIX PETROLEUM

Phoenix Petroleum rises to the top of the Philippines' oil & gas industry

Upon 1998's deregulation of the Philippine oil industry, the sector was opened up to a host of new, budding operators. In the 20 years that have based since, the industry has consequently expanded from the three traditional players that were in place then to now comprise hundreds of new independents. Leading this compliment is Phoenix Petroleum, the fastestgrowing oil company in the Philippines.

“It was in 2002 in Davao City when young entrepreneur, Dennis Uy saw the opportunity of startinh up an oil company outside of Manila, the country's capital, in a deregulated market. In 2005, we opened our first five fuel stations,” recalls Phoenix Petroleum’s Chief Operating Officer, Henry Albert Fadullon. “Two years later in 2007, with our eyes set on expanding nationwide, we listed on the Philippine Stock Exchange; the first oil company to do so since the industry was deregulated. The IPO fuelled our expansion, and we opened our 100th station in just two years.

“Ten years after our IPO, in 2017, we grew our network to more than 500 stations nationwide and expanded to new ventures. We acquired the local LPG business of Petronas, Malaysia's state oil & gas giant, and have renamed it to Phoenix LPG Philippines. We also opened our first international office, for regional trading, in Singapore –

PNX Petroleum Singapore Pte Ltd.”

One year on to the present day, and Phoenix Petroleum's ongoing aggressive expansion is an indictment of what can now be achieved in the country's oil & gas domain - the business having also diversified into convenience story retailing; bitumen operations via Phoenix Asphalt

Phoenix Petroleum has reflected the changing landscape of oil & gas in the Philippines over the past 20 years; diversifying in line with cultural, technological and industrial developments to become a top three operator