Davao—(PHStocks)—Phoenix Petroleum Philippines (PSE: PNX) inaugurates today, June 29, 2017, its newest terminal, in Consolacion, Cebu. It is Phoenix Petroleum’s ninth facility in the country and its largest in the Visayas.
The new terminal has a capacity of 15 million liters and can store diesel, gasoline, jet fuel, special fuel oil, and industrial fuel oil. It was built to better serve the fuel and lubricant needs of the growing Phoenix retail network and of various commercial customers such as those in shipping, airlines, construction, mass transportation, and other industries in the Visayas.
“The opening of our new terminal strengthens our foothold in the Cebu fuels market and improves our supply reliability in serving the needs of our commercial and retail businesses in the greater Visayas. This is part of our commitment to be an indispensable partner to our customers, wherever they may be,” said Phoenix Petroleum President and Chief Executive Officer Dennis Uy.
Phoenix Petroleum is the leading independent oil company in the Philippines and the independent with the largest storage capacity. It is engaged in the trading and marketing of refined petroleum products and lubricants, operation of oil depots and storage facilities, and hauling and into-plane services.