Phoenix Petroleum plans to build 100 stations

Listed firm Phoenix Petroleum Philippines Inc. said it will build 100 stations in the major island of Luzon in the Philippines, with 30 to be located in Metro Manila, over a three-year period. The stations would cost around Php6 to 8 million (US$ 124,440.48 to 165,920) each, the company said. Eleven stations are planned to be built by year end. The announcement follows the launching of the company’s newly constructed 65-hectare oil depot in the Batangas Union Industrial Park in the town of Calaca, also in Luzon, which has a storage capacity of 50 million liters. (July 14, 2009)