Phoenix Petroleum to double fuel ethanol storage facility

Phoenix Petroleum said it will expand its Batangas fuel ethanol storage facility by 50% to 1,200 cubic meters, after an unsuccessful attempt to secure tankage in Subic Bay, Philippines. The company is preparing for the partial implementation of a country-wide E10 mandate, which requires at least 10% of all fuel sold to be bioethanol-blended gasoline. The partial mandate will take effect in August. In addition to this expansion, Phoenix is adding 20 new retail stations which will bring the company’s number of retail outlets to 179. (June 17,2011)