According to latest data from the Philippine Department of Energy (DOE) on fuels market share as of the first half of 2020, leading independent oil player Phoenix Petroleum Philippines, Inc., has garnered 6.86% market share, landing it on third place among petroleum companies in the Philippines. Phoenix Petroleum has climbed one notch higher from its fourth place position in the same period in 2019. Chevron Philippines, with its Caltex brand, was in third place in 2019. Petron Corporation and Pilipinas Shell were in first and second place, respectively. This marks the first time that an independent oil marketer has overtaken an international oil major.
In the first quarter of 2020, Phoenix Petroleum registered a gross profit of PHP1.7 billion (USD35 million) on revenues of PHP21.9 billion (USD451 million), leading to earnings before interest, taxes, depreciation, and amortization (EBITDA) of PHP503 million (USD10 million). Operating income and net loss stood at PHP179 million (USD3.7 million) and PHP215 million (USD4.4 million), respectively.
In the segment of liquefied petroleum gas (LPG), Phoenix reported a 39% increase in volume in the first quarter of 2020 dueto its key stronghold in Visayas and Mindanao, as well as some headway in the highly competitive Luzon market. Based on DOE data in the first half, Phoenix garnered 6.57% of the total LPG market share in the Philippines, up from 5.61% in 2019.
“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 through our high-performance and high-quality yet competitively priced products and services,” said Phoenix Petroleum President Henry Albert Fadullon.
“This latest development in terms of market share affirms the results of the brand market study we implemented that illustrate Phoenix as an emerging and credible brand alternative to the ones Filipinos have been used to in the market. It encourages and inspires us even more to carry out our vision to be an indispensable partner of Filipinos in their daily journey,” said Fadullon.
In an independent brand health study on fuels in 2019, Phoenix was found to be third in terms of brand awareness as well as brand used most often (BUMO). Phoenix was also recognised as Marketing Company of the Year at the 40th Agora Awards organised by the Philippine Marketing Association in January 2020, and most recently earned three citations at the 17th International Business Awards.