Listed firm Phoenix Petroleum Philippines Inc. is expanding the market reach of its lubricant products into Indonesia, the company has announced.
The oil firm said its lubricants brand will be the first commodity to be offered to customers in that new offshore market – in which Phoenix Petroleum’s entry had been cemented via its newly established subsidiary Phoenix Petroleum Indonesia that is headquartered in Jakarta.
“The full PNX lubricants will be available for consumer and commercial vehicle segments, including motorcycles and cars through selected distribution partners in the country,” the Uy-led company emphasized.
Phoenix Petroleum President Henry Albert Fadullon said “Indonesia is one of the biggest and prominent downstream markets in Asia, so we saw it as a great opportunity for the company to participate in and expand its portfolio.”
According to Ma. Celina I. Matias, vice president for Integrated Marketing and Strategy of Phoenix Petroleum, “Indonesia currently has the highest motorcycle and car population in the region,” and it is that kind of demographics that the company has seen as an opportunity in bringing its lubricant products into that overseas market.
“We have the opportunity to bring value and the best experience to Indonesian motorists,” the oil firm executive noted.
Matias specified that the lubricant product-lines of Phoenix Petroleum “are specifically designed to address the traffic and weather conditions in Indonesia.”
In particular, the oil company stated its motorcycle engine oil Cyclomax, has been “formulated with heat guard additive to prevent the engine from overheating,” and Matias said, that in turn will enable motorists to do their daily chores without getting stuck on the road.
Indonesia is the fourth market in the Southeast Asian region penetrated by Phoenix Petroleum – after investment and marketing forays in Singapore, Vietnam and Brunei Darussalam.
While the Philippine operation of Phoenix Petroleum has been going through financial roadblocks, it was indicated that its offshore markets had been contributing favorably into its top and bottom lines – including its LPG trading venture in Vietnam.