Malaysian oil company Petronas and Phoenix Petroleum Philippines signed a memorandum of understanding to explore partnership in the Philippines, including downstream marketing business and associated technology solutions.
The parties will capitalize on high-quality fuels and innovative digital solutions. The collaboration will give Phoenix access to Malaysia’s state-owned company’s branded retail and marketing offerings, including fuel and fluid technologies, while Petronas expands its footprint into 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,” said Petronas vice president of refining, marketing and trading at downstream Ahmad Adly Alias.
“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 Alias.
Petronas and Phoenix will conduct a joint feasibility study to take the collaboration on 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,” Phoenix president Henry Albert Fadullon said.
“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,” Faudullon said.
This marks the second collaboration between the two companies which entered into their first agreement in 2017 when Phoenix acquired the entire LPG business of Petronas in the Philippines, now owned by the company’s subsidiary Phoenix LPG Philippines Inc.
Petronas operates in over 100 countries, including Malaysia where it has more than 1,000 stations, while Phoenix, a homegrown company, has close to 700 retail stations across the Philippines and expanded its business to Singapore and Vietnam.