PETRONAS and Phoenix Petroleum have signed a Memorandum of Understanding (MOU) to jointly explore a partnership opportunity in the Philippines in the area of downstream marketing business and associated technology solutions.
Under the MOU, PETRONAS and Phoenix Petroleum will conduct a joint feasibility study to take the collaboration to the next phase of execution.
This would see the two companies come together to potentially create a unique experience, capitalising on high-quality fuels and innovative digital solutions. If materialised, the collaboration would give Phoenix access to PETRONAS’ branded marketing offerings, including its fuel and fluid technologies, while allowing PETRONAS to expand its footprint into the Philippines.
PETRONAS Vice President Refining, Marketing & Trading, Downstream Business, Ahmad Adly Alias said, 'PETRONAS is excited at the prospect of delivering an elevated fuel experience to customers in the Philippines. From our winning fuels derived from the Fluid Technology Solutions™ to our state-of-the-art digital and sustainable solutions, we will continue to innovate our range of offerings to deliver a seamless experience to more road users around the world.'
Phoenix Petroleum President, Henry Albert Fadullon commented: 'Partnership and collaborations between brands have been in fashion for some time now, and we’ve seen several that are especially effective in bringing together the best of two worlds. That’s what we’re doing with PETRONAS. With the technology and expertise of PETRONAS as the largest fuel retail network operator in Malaysia, combined with the deep knowledge and experience of Phoenix in terms of the local market, this synergy promises to be a new experience for our customers.'
The MOU marks the second collaboration between the two companies after their first agreement in 2017 when Phoenix Petroleum acquired PETRONAS’ entire LPG business in the Philippines now owned by the company’s subsidiary, Phoenix LPG Philippines, Inc.
PETRONAS has presence in over 90 countries including the largest retail footprint in Malaysia with more than 1,000 stations whilst Phoenix Petroleum is a company with close to 700 retail stations across the Philippines and has expanded its business to Singapore and Vietnam.
Source: PETRONAS
