Phoenix Petroleum Philippines, Inc., a leading independent oil company in the Philippines, opened its 200th station in Valenzuela City late October. The company opened its first station in 2005 and has since been expanding its chain in Mindanao and other areas of the country. Phoenix Petroleum was incorporated in 2002 and its first big account was Cebu Pacific. The company has become the airline’s exclusive supplier since 2004 in Mindanao. In July 2007, Phoenix Petroleum made history by becoming the first independent oil company to be listed in the Philippine Stock Exchange, following the Oil Deregulation Law which was passed in 1998. The company started as a small family business but today it is the biggest oil player in Southern Mindanao, where it enjoys a 24% market share. The company is also among the top corporations in the country. Today, it has 3.7% of the nationwide market. (October 27, 2011)