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 supplies...
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 support...
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...
Listed firm Phoenix Petroleum Philippines Inc. has inked a memorandum of understanding (MOU) with Malaysia’s state-owned Petronas for possible tie-up for the marketing of the latter’s fuel products and introduction of its innovative technology solutions in the Philippine oil sector.
In a...
From left: Metro Pacific Tollways Corporation President, Rodrigo Franco; father of Phoenix NLEX dealer, Roque Lumanlan; Phoenix brand ambassadress, Rhian Ramos; Toll Regulatory Board Management Executive Director, Atty. Alvin Carullo; Phoenix President, Henry Albert Fadullon; Phoenix Senior...
Listed firm Phoenix Petroleum Philippines Inc. further expanded its market share to 8.3 percent in the first half this year from a leaner 7.1 percent last year, securing its stature as the third biggest player in the deregulated downstream oil industry in the country.
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