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Manila Bulletin devider Business devider Phoenix Petroleum sustains LPG business growth

Phoenix Petroleum sustains LPG business growth

Published May 5, 2022 04:14 pm

Uy-led Phoenix Petroleum Philippines Inc. has registered sustained demand expansion for its liquefied petroleum gas (LPG) business, partly due to robust sales in the canister segment.

The firm’s Phoenix Super LPG brand, according to the company, already cornered 32 percent market share, a significant rise from the modest 5 percent growth when it diversified into the LPG sector in 2016.

“Sales volume in Visayas-Mindanao is getting a boost from its emerging canister business. The expansion into new markets and product innovation, alongside strong business fundamentals, contributed to the notable growth of LPG -- doubling its market share to 8.0-percent in less than five years,” Phoenix Petroleum noted.

Phoenix Petroleum President and CEO Henry Albert Fadullon attributed the sales growth to “improved performance to the resilient LPG demand and rebound in consumer spending.”

He indicated that while the pandemic caused a historic decline in global fuel demand as commercial and transport segments weakened, "LPG consumption remained strong as many households continue to stay home and appreciate the joys of cooking.”

Fadullon further said they are seeing sustained economic recovery with the easing of restrictions, which benefits its commercial LPG, and sustained household consumption.

At the height of the pandemic in the past two years, the oil industry business had been on slump, but it was the LPG segment of the business that continually thrived because the mobility restrictions compelled many consumers to resort to household cooking due to mobility restrictions.

Beyond the traditional means of purchasing LPG products from licensed retail outlets, Phoenix Petroleum also brought in digital partner LIMITLESS app where customers can order online its cooking fuel Phoenix Super LPG and avail of discounts, and earn points and rewards.

The upturn in the company’s LPG sales is being regarded as one of the favorable conditions happening in the oil firm’s operations amid the continuing deleveraging strategy being sorted by Phoenix Petroleum toward improving its financial stature.

“Amid the ongoing pandemic and unprecedented uncertainties, Phoenix’s commitment to prudent management of resources and cost discipline and in bringing the best services and product offering to our communities are pushing us further and driving our growth,” Fadullon stressed.

Related Tags

#PHOENIXPETROLEUM #SUPERLPG #CANISTER #LIMITLESS #DIGITALPLATFORM
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