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.
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.
