KUALA LUMPUR: Petroliam Nasional Bhd (PETRONAS) and Phoenix Petroleum have signed a memorandum of understanding (MoU) to explore a partnership in downstream marketing business and associated technology solutions in the Philippines.
In a statement, PETRONAS said the collaboration would give Phoenix access to PETRONAS’ branded marketing offerings, including its fuel and fluid technologies, while PETRONAS would expand its footprint into the Philippines.
PETRONAS vice-president of refining, marketing and 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.”
"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,” said Phoenix Petroleum president Henry Albert Fadullon.
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.