PetDag selling Philippine LPG stakes

Petronas Dagangan sees rising investor interest

PETALING JAYA: Petronas Dagangan Bhd (PetDag) will sell its 100% equity interest in Petronas Philippines Energy Inc (PEPI) and 40% equity interest in Duta Inc to Phoenix Petroleum Philippines Inc for US$124mil (RM532.5mil).

With this, the group will be exiting the liquefied petroleum gas (LPG) business in the Philippines.