Phoenix Petroleum expands retail network

Phoenix Petroleum Philippines Inc. plans to invest about Php500 million (US$10.5 million) to expand its retail network to 200 in 2009, Phoenix Corporate Communications Manager Bobby Tuason said. The company will focus on expanding in the Philippine northern island group of Luzon, where the company currently only has six stations. The network expansion would be supported by the commercial operation of Phoenix’s 100 million liter Calaca, Batangas oil depot and is in line with the agreement that Phoenix entered into with the Philippine National Police (PNP) in October 2008. According to the agreement, the company will supply the PNP 800 million liters of fuel annually. (February 9, 2009)