DAVAO CITY—Phoenix Petroleum said it has noted an expanding business trend in its liquefied petroleum gas in Vietnam since early this year, noting that this followed its getting majority control of an established LPG company in the country.
“Phoenix Petroleum expanded its LPG operations to Vietnam earlier this year when it officially completed the acquisition of 75 percent of Origin LPG Vietnam LLC,” the company said.
It did not disclose its current market share in Vietnam, but said the Vietnamese LPG company has since been renamed Phoenix Gas Vietnam. The increased patronage of the company-branded LPG was largely aided by the Vietnamese LPG company’s existing presence in Central and South Vietnam, it added.
Phoenix Gas Vietnam is based in Ho Chi Minh City and assumed the previous company business in LPG trading, storage, warehouse, port and LPG tank servicing, and other services, including repair and maintenance of LPG supply systems, LPG transportation, and LPG warehouse and storage leasing. It has been entered as a subsidiary of Singapore-based unit Phoenix Energy International Holdings Pte. Ltd.
It has established branches in Da Nang, Long Thanh Rural District, Nha Trang, and Cam Ranh.
In mid-August, Phoenix Petroleum Philippines organized a series of activities across Vietnam “to show its appreciation to business partners in Vietnam.”
It gathered its 68 distributors in Central and South Vietnam in a three-day gathering that featured tours to different destinations in the country, including Yen Tu Mountain, Ha Long Bay, Hanoi and Ho Chi Minh.
The activities included a business partners’ night “where ventures under the Udenna Group, the parent company of Phoenix Petroleum, were introduced, and the top 5 LPG distributors of Phoenix Gas Vietnam were recognized.”
“This endeavor has been a great opportunity to get to know better, and show support and appreciation to our partners in Vietnam as we strengthen our ties in the country. We want the Vietnamese market to experience the full benefits of our growing LPG business, while it expands across Asia Pacific, and building these valuable local relationships is pivotal in achieving that,” Phoenix Petroleum Chief Operating Officer Henry Albert Fadullon said.
The company will popularize the LPG business in the homes and businesses of Vietnamese customers, touting the “excellent quality of Phoenix products and services,” he added.