Phoenix Petroleum Philippines, Inc. has expanded its share in the local petroleum industry, cornering 6.2% of the market as of end-2017 and posting the biggest improvement among oil companies.
“We are proud to be an emerging major in the industry today, after having started just over 15 years ago in Davao City,” said Dennis A. Uy, Phoenix president and chief executive officer, in a statement.
“As we enter the next phase of our growth, we will continue to be passionate and committed in serving our customers’ needs and growing the business. This milestone inspires us further towards our vision of being an indispensable partner to our customers and business partners,” he added.
Based on the ranking released by the Department of Energy, Phoenix’s market share last year improved by several basis points from P5.7% in 2016.
Phoenix said it led other independent market participants as it recorded record volume sales last year. — Victor V. Saulon