Phoenix Petroleum Philippines Inc. informed the Philippine Stock Exchange (PSE) that it is unable to pay dividends due to its preferred shareholders because it has no unappropriated retained earnings. The PSE had written Phoenix Petroleum, directing it to give an update on the redemption and...
Independent oil firm Phoenix Petroleum Philippines Inc. announced that it is joining the rise of electric vehicle (EV) fleets through a partnership with V-Green Charging Station Development Philippines Inc. In a disclosure to the Philippine Stock Exchange (PSE) on Monday, Aug. 18, Phoenix said it...
Visayas fuel distributor Top Line Business Development Corporation, through subsidiary Light Fuels Corporation, is acquiring the gasoline station of Phoenix Petroleum Philippines, Inc. in Cebu. In a disclosure to the Philippine Stock Exchange, Top Line said its board of directors has unanimously...
The Department of Energy (DOE) has instructed players in the deregulated downstream oil industry to assess the quality of their fuel products before these are retailed to customers – primarily if there had been infiltration of floodwaters in their underground storage facilities or if some...
Financially-plagued Phoenix Petroleum Philippines Inc, has widened its net loss within January-September stretch this year to P3.688 billion from a relatively leaner P1.0 billion in the same period in 2022. The company’s net loss before tax, as reported to the Philippine Stock Exchange (PSE), was...
As it continues to traverse rough financial terrain on its operations, Uy-led Phoenix Petroleum Philippines Inc. indicated that it will be pursuing a sale-and-lease back arrangement for its assets with Sy-controlled BDO, which has been its long term go-to bank for credit line. According to Phoenix...
Dennis Uy’s Phoenix Petroleum Philippine Inc. approved the selling of its ownership stake in PNX Petroleum Singapore Pte. Ltd. via share buy back. “The divestment is consistent with and pursuant to the Liability Management Exercise [LME] in order to generate additional working capital to...
Consumers will feel the heat of a budget swell on their cooking fuel this month as the price of liquefied petroleum gas (LPG) will rise by a hefty P6.64 to P6.65 per kilogram or P73.04 to P73.15 for the standard 11-kilogram cylinder. Leading industry player Petron Corporation advised of LPG price...
Uy-led Phoenix Petroleum Philippines Inc. has reinforced its partnership with various entities on its target to improve automotive servicing for a wider base of customers. The oil firm noted that Autoworx Plus MyCasa, which is its partner in automotive servicing, has recently signed a partnership...
It will be a financially-punishing drive at the petroleum stations, as the price of diesel will rise by as much as P3.50 per liter, while gasoline prices will climb by P2.10 per liter, effective Tuesday, August 1, according to the price adjustment advisories of the oil companies. Additionally, the...
Phoenix Asphalt Philippines, Inc., a subsidiary of listed firm Phoenix Petroleum Philippines Inc., is introducing to market its new asphalt product to be used in airport runways. Phoenix Asphalt explained that its latest product called polymer modified bitumen (PMB) is a kind of bitumen with added...
CAGAYAN DE ORO CITY – An oil and gas company has urged concerned government agencies to properly enforce Republic Act No. 11592, also known as the LPG Industry Regulation Act, to carve out illegal refilling activities in Mindanao. Evelyn Gerodias, Phoenix Petroleum Philippines Inc. general manager...
