- Corporate News
Seeking market opportunities, PETRONAS partners with Phoenix Petroleum
Malaysia’s PETRONAS and Phoenix Petroleum Philippines have signed a memorandum of understanding (MOU) to jointly explore a partnership in the Philippines, which includes the downstream oil industry marketing business and associated technology solutions.
This will see the two companies come together to create a unique experience, capitalising on high-quality fuels and innovative digital solutions. If it materialises, the collaboration will give Phoenix access to PETRONAS’ branded marketing offerings, including its fuel and fluid technologies, while allowing PETRONAS to expand its footprint into the Philippines.
“PETRONAS is excited at the prospect of delivering an elevated fuel experience to customers in the Philippines. From our winning fuels derived from the Fluid Technology Solutions™ to our state-of-the-art digital and sustainable solutions, we will continue to innovate our range of offerings to deliver a seamless experience to more road users around the world,” said PETRONAS Vice President of Refining, Marketing, and Trading Downstream Business Ahmad Adly Alias.
Under the MOU, PETRONAS and Phoenix Petroleum will conduct a joint feasibility study to take their collaboration to the next phase of execution.
“Partnerships and collaborations between brands have been in fashion for some time now, and we’ve seen several that are especially effective in bringing together the best of two worlds. That’s what we’re doing with PETRONAS. With the technology and expertise of PETRONAS as the largest fuel retail network operator in Malaysia, combined with the deep knowledge and experience of Phoenix in terms of the local market, this synergy promises to be a new experience for our customers,” said Phoenix Petroleum President Henry Albert Fadullon.
This marks the second collaboration between the two companies. In 2017, Phoenix Petroleum acquired the entire LPG business of PETRONAS in the Philippines. The LPG business is now owned by the company’s subsidiary, Phoenix LPG Philippines, Inc. PETRONAS is present in more than 90 countries, including the largest retail footprint in Malaysia with more than 1,000 stations. Phoenix Petroleum has nearly 700 retail stations across the Philippines. It has expanded its business to Singapore and Vietnam.