Phoenix builds Zamboanga storage facility

Phoenix Petroleum Philippines Inc. is building a petroleum products storage facility in Talisayan, Zamboanga City, in southern Philippines. With an investment of Php123 million (US$2.84 million) Phoenix will put up a 4.9 million liter-storage facility for petroleum products including biodiesel, gasoline and jet fuel, to serve the needs in the south. Phoenix, which also operates gas stations, said it will source its products from foreign oil companies and independent suppliers like Singapore Petroleum Corp., Chevron, Petronas, and Formosa Petroleum. Commercial operation is slated to begin in November. (October 21, 2010)