DAVAO CITY — Listed independent oil firm Phoenix Petroleum Philippines, Inc. is assessing various locations proposed by potential dealers as part of its expansion program this year, a top company official said yesterday.
Lawyer Allan Raymond T. Zorilla, Phoenix Petroleum senior vice president of external affairs, business development and security, told BusinessWorld that the review takes into consideration not just location but “moving traffic” in the area.
“We will look at the viability of the areas as we always consider location as a primary factor (in expansion),” said Mr. Zorilla.
He added that the company is especially interested in opening more service stations in Mindanao, where the company started.
On average, he said, the company opens about 50 new service stations every year and it reported last month that it ended 2018 with 600 nationwide.
Apart from setting up new service stations, Mr. Zorilla said the company also buys “white stations” or existing facilities not attached to specific brands, or even those that sell competing brands including those held by small independent retailers.
Phoenix Petroleum, in a Feb. 27 statement, reported a “banner year in 2018 with the strongest revenue and earnings in the Company’s history, driven by record volume from new businesses and sustained strength in its core fuels business.”
The company, headquartered in Davao City,reported a net profit of P2.77 billion, up 82%, while revenue was at ?88.61 billion. — Carmelito Q. Francisco
