Phoenix Petroleum Philippines Inc. foresees a rosy prospect for this year as it targets to put up 50 to 60 more gasoline stations throughout the country within the year, adding to its 530 stations.
“(These are) all over the country, but of course we look for strategic locations which will generate the best returns so key cities, key areas. We are looking for sites to put up these stations,” Phoenix Chief Operating Officer Henry Albert Fadullon said in an interview.
Fadullon said the company is continuously expanding its core business, which is fuel and lubricants. Phoenix is engaged in the trading and marketing of refined petroleum products, including liquefied petroleum gas (LPG) and lubricants, operation of oil depots and storage facilities, hauling and into-plane services.
Aside from its expanding retail network, it also serves major accounts in various industries such as power, shipping, logistics, manufacturing, construction and transportation.
Phoenix Petroleum has also expanded to the convenience retailing business with its acquisition of Philippine Family Mart, and is set to enter the bitumen business through a joint venture with TIPCO Asphalt of Thailand and PhilAsphalt.
“We continue to be alert for opportunities in terms of business. If there is an opportunity, we will look into it, review it, study it and if there is a business opportunity, we’ll take on it,” added Fadullon. (PNA)