Phoenix Petroleum Philippines, Inc.
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|
| Public | |
| Industry | Oil and Gas |
| Founded | 2002; 15 years ago |
| Headquarters | Phoenix Bulk Depot, Lanang, Davao City, Philippines |
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Key people
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Dennis A. Uy (Founder, President and CEO) |
| Products |
Oil Natural gas |
| Services | Oil refining |
| Website | www.phoenixfuels.ph |
Phoenix Petroleum Philippines, Inc. (: PNX) is the first independent oil company to be listed in the Philippine Stock Exchange after the Oil Deregulation Law was passed in 1998. It is the first company from Davao City to be listed in the .
Phoenix is engaged in the business of trading refined petroleum products and lubricants, operation of oil depots and storage facilities, and allied services.
It is described as "one of the country’s most aggressive independent oil companies" having reached a core net income of P427 million in 2010, compared to its P178 million earnings in 2009.
Phoenix is a home-grown company in Davao City. It was originally incorporated in May 8, 2002 as Oilink Mindanao Distribution, Inc., and changed its name in January 2004 to Davao Oil Terminal Services Corporation (DOTSCO). The small family business began operations in its current form thereon, distributing petroleum products to various commercial entities in Mindanao. Its first big account was Cebu Pacific. As the airline’s exclusive logistics partner since 2004, the oil company provides Cebu Pacific’s refueling requirements in all its Mindanao destinations.
In 2006, the company was renamed Phoenix Petroleum Philippines, Inc. and introduced lubricants and car care products to its product line.
It became a publicly-listed company in July 11, 2007, offering 25% of its total outstanding shares to the public. Phoenix Petroleum became the first independent oil company to be listed in the Philippine Stock Exchange after the Oil Deregulation Law was passed in 1998. Phoenix Petroleum also became the first company from Davao City to go public.
Phoenix received a certification for ISO 9001:2000 quality system standards for its Davao bulk plant and aviation fuel tank truck operations in 2008. In the same year, the oil company opened its first Manila station in Marikina and has jumped to rank 242 in the Philippines Top 10,000 Corporations in 2008 from being in rank 473 in 2007. In 2011, it ranked 53rd. Phoenix is the first petroleum company to introduce a toll-free number for franchising in 2009.
The Social Security System acquired up to 9.68 percent stake in Phoenix Petroleum in 2009, from its initial 2.78 percent. "We believe that with its track record and its positive business prospects, our addition of Phoenix Petroleum to the SSS' list of investments was a good decision," says SSS President Romulo Neri.
World boxing champion Manny Pacquiao owns the 100th Phoenix station in General Santos City.
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Wikipedia