Phoenix Petroleum Philippines, an independent oil marketer which is rapidly growing its retail base in the Philippines, has expanded its Southeast Asian network further, with the signing of a strategic partnership with Pertamina International Marketing and Distribution Pte. Ltd. (PIMD).
With this strategic partnership, PIMD, a Singapore-based subsidiary of Indonesia’s state-owned energy company PT Pertamina (Persero), has begun supplying petroleum products to Phoenix Petroleum in the Philippines and Singapore. It also allows the two companies to explore and co-develop other international downstream business opportunities in the region.
“We are proud and happy to work with Pertamina as our supply partner. As both homegrown oil companies, we believe that the synergy between Phoenix and Pertamina will bring mutual and complementing value and opportunities, especially since the Philippines and Indonesia are geographically situated close to each other,” Phoenix Petroleum President Henry Albert Fadullon said.
Since its establishment in 2019, PIMD has been tasked to develop PT Pertamina’s overseas sales and marketing through third party-sourced products, as well as through the latter’s own products. PT Pertamina (Persero) is an aspiring world-class national energy company that owns six refinery units with a total daily capacity of more than one million barrels, which ensures Phoenix Petroleum a secure, reliable, and competitive supply of products.
“Our partnership with Phoenix Petroleum is aligned with the vision to expand the international business of Pertamina and develop strategic partnerships in South East Asia,” PIMD Managing Director Agus Witjaksono said.
Meanwhile, Phoenix has previously ventured into various other Asian markets in the past three years with the establishment of PNX Petroleum Singapore and Phoenix Gas Vietnam, and strategic partnerships in other ASEAN countries.