Davao-based oil player Phoenix Petroleum Philippines, Inc. opened its first station in Metro Manila and Luzon last week as it aggressively moves to expand nationwide.
The station, located in J.P. Rizal St, Fairlanes, Brgy. Nangka, Marikina City, is strategically located being in the gateway to San Mateo and Batasang Pam-bansa. The Phoenix-Marikina station held its soft opening on September 14, with grand opening scheduled next month. The station also has a service bay.
The Marikina outlet is the 71st station of Phoenix. Two other stations in Mindanao opened this September, the 70th in Daproza, General Santos City, and the 72nd in Compostela Valley. Phoenix retail service stations operate in major parts of Mindanao. By the end of 2008, 12 Phoenix stations will have opened in Luzon.
Phoenix posted a net income of P122 million in 2007, a robust growth of 65% compared to 2006. Revenue likewise grew by 59% P2.377 billion in 2007, compared to the 2006 revenue of P1.494 billion. The growth was fueled by substantial increase in sales of petroleum products and revenue in storage, logistics and into-plane services.
Phoenix Petroleum Philippines, Inc. went public last year, the first petroleum company to list in the Philippine Stock Exchange after the passage of the 1998 Downstream Oil Industry Deregulation Act. The company is engaged in the business of trading refined petroleum products, lubricants, chemicals and an array of car care products and accessories. It also provides services such as depot operation, depot storage, logistics, into-plane and allied services.