Phoenix Petroleum Philippines Inc. is upbeat on its liquefied petroleum gas (LPG) business this year as the country moves toward economic recovery.
“We are seeing sustained economic recovery with the easing of restrictions, which benefits our commercial LPG, and sustained household consumption,” said Phoenix president Henry Albert Fadullon in a statement.
“Amid the ongoing pandemic and unprecedented uncertainties, Phoenix’s commitment to prudent management of resources and cost discipline and in bringing the best services and product offering to our communities are pushing us further and driving our growth,” he said.
The company’s LPG business posted a 14 percent volume growth in 2021.
The growth of Phoenix LPG Philippines Inc. in the last five years was driven by the company’s expansion in Luzon, which now accounts for 32 percent of the total volume from a mere 5 percent since Phoenix acquired the business.
Sales volume in Visayas and Mindanao, meanwhile, is getting a boost from its emerging canister business.