Malaysian energy group Petronas and Filipino oil firm Phoenix Petroleum have signed a memorandum of understanding (MOU) to explore partnership deals “for downstream marketing business and associated technology solutions.”
In a statement, the two companies said they are working together to “create a unique branded retail experience” by giving Phoenix access to Petronas branded retail and marketing products, including fuel and fluid technologies.
This enables Petronas to expand its footprint in the Philippines.
“In our commitment towards customer centricity, Petronas is excited to deliver an elevated fuel retail experience to customers in the Philippines through this collaboration.
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 and perfect our range of offerings to deliver a seamless experience to more road users around the world,” said Ahmad Adly Alias, Vice President of Refining, Marketing, and Trading at Downstream Petronas.
The deal also provides for the conduct of a feasibility study to “take the collaboration to the next phase of execution.”
“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,” Phoenix Petroleum President Henry Albert Fadullon said.
The two companies first entered into a collaboration deal in 2017, when Phoenix Petroleum acquired the LPG business of Petronas in the Philippines.
In November 2022, Phoenix announced that it committed P1 billion for the expansion of its business amid persistent challenges and uncertainties in global markets.
The oil firm said that as of end-September 2022 and end-December 2021, it has commitments of more than P207.4 million and P800 million, respectively, for the expansion of its petroleum retail network, depot, terminals and logistics facilities, information technology infrastructure and initiatives related to its business development.
