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Independent fuel retailer Phoenix Petroleum Philippines continues
its bullish expansion by opening six more stations in July, totaling to
68 the number of stations of the independent oil company in just three
years.
The new stations opened in Davao City, Shariff Kabunsuan, Cotabato, and
Sultan Kudarat in Mindanao. Phoenix retail service stations operate in
major parts of Mindanao, such as Davao City, Davao del Norte, Davao del
Sur, Compostela Valley, Surigao, Bukidnon, North Cotabato, South
Cotabato, Agusan del Sur, and Sultan Kudarat.
Phoenix currently has a market share of 23 percent in the Davao region
and 9 percent in Mindanao in terms of number of retail stations.
By the end of the year, Phoenix would have expanded to the north and
opened its first retail stations in Metro Manila, Northern Luzon, and
Cebu. Phoenix targets a total of 100 stations by year end.
To support the expansion, Phoenix will be constructing and expanding
terminals and depots in strategically located sites. Its Dumaguit,
Aklan depot was inaugurated in March.
Phoenix posted a net income of P122 million in 2007, a robust growth of
65% compared to 2006. Revenue likewise grew by 59% P2.377 billion in
2007, compared to the 2006 revenue of P1.494 billion. The growth was
fueled by substantial increase in sales of petroleum products and
revenue in storage, logistics and into-plane services.
Phoenix Petroleum Philippines, Inc. went public last July 11, 2007, the
first petroleum company to list in the Philippine Stock Exchange after
the passage of the 1998 Downstream Oil Industry Deregulation Act. The
company is engaged in the business of trading refined petroleum
products, lubricants, chemicals and an array of car care products and
accessories. It also provides services such as depot operation, depot
storage, logistics, into-plane and allied services.
PetrolWorld 010808
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