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Phoenix Petroleum boosts its share of Philippine fuel market

Phoenix Petroleum boosts its share of Philippine fuel market
Photo courtesy of Phoenix Petroleum

Phoenix Petroleum Philippines, Inc. has further increased its share of the Philippine fuel market, based on data published by the Philippine Department of Energy (DOE). As of May 25, 2021, the local, independent oil marketer has cornered 7.81% of the Philippine fuel market, up from 7.1% at the end of 2020, solidifying its position as the third largest oil marketer, behind Petron Corporation and Pilipinas Shell Petroleum Corp.

“Despite challenges and setbacks, we’ve remained determined and optimistic throughout this pandemic, and I’m glad that our efforts are bearing fruit,” said Phoenix President Henry Bong Fadullon. “As quarantine restrictions become more relaxed, and the country’s vaccination operations continue, safety remains as our top priority, but we are now more optimistic. In fact, our second-quarter has yielded stellar results, encouraging us to look forward to an even more business-friendly environment.”

Fadullon said that the company’s business results in April exceeded pre-COVID levels for the first time since the start of the pandemic, and reiterated the company’s commitment to priorities, including providing the best offer to customers, operational excellence, and accelerating growth. The company has also highlighted its focus on streamlining operations, improved resource management, and efficiency.

Phoenix Petroleum has maintained its standing as the third largest oil company in the Philippines since last year. “We are proud and grateful that even with the difficulties that the pandemic has caused, we are able to continue cultivating our business while serving even more communities,” he said.