For its combined portfolio in fuels and liquefied petroleum gas (LPG), Uy-led Phoenix Petroleum Philippines Inc. has retained its market standing as the third biggest player in the deregulated downstream oil sector last year.
In a report released by the Department of Energy (DOE), it was shown that the market share of Phoenix Petroleum for fuels reached 6.4-percent and 1.1-percent in the LPG market pie, enabling it to log aggregate market share of 7.5 percent.
The Uy-led oil company ranks third to Petron Corporation which sustained its ranking as a top oil industry player with 19.2-percent market share followed by Pilipinas Shell Petroleum Corporation with 15-percent market share.
In the fourth rank had been Unioil with 7.1-percent share; followed by Insular Oil with 6.2-percent share; and then Seaoil with 5.5-percent share; while traditional major player Chevron Philippines had been pulled down to 7th place with relatively leaner market share of 5.3-percent.
The energy department report also exhibited that the market share of the traditional major players had already decelerated to 39.4 percent while independent players, which entered the market after the deregulation of the industry in 1998 had flourished with a heftier market share of 52.7 percent.
In a statement to the media, Phoenix Petroleum President Henry Albert Fadullon indicated that “even with difficulties caused by unprecedented calamities, and emerging market and supply chain disruption, we remain committed to bringing the best product offers and services to our customers and communities.”
He emphasized that the sustained market ranking of Phoenix Petroleum “serves as a testament to the strong resolve of our Phoenix team in driving growth by providing exceptional value at any level.”
The company said it will continue “to ramp up its business and promotional efforts” across its business units as a way to expand its market reach to wider base of consumers.
One market promotion innovation, it has also been banking on is the digital platform LIMITLESS, which has been dangling market offers and discounts to customers. These offers entice customers especially with the recurring oil price hikes.
Apart from products being retailed at its petroleum pumps as well as its Super LPG brand, Phoenix Petroleum also has integrated businesses across the chain, including its Family Mart store as added feature at its stations; the Phoenix lubricants shop; and an AutoWorx Plus automotive care shop.