Phoenix Petroleum Philippines Inc. replaced Chevron Philippines Inc. as the third largest oil company in the country in the first half.
Data from the Department of Energy showed Phoenix garnered 6.86 percent of the domestic fuel market, landing it on third place among petroleum companies in the first half, according to the Department of Energy.
Phoenix, led by businessman Dennis Uy, climbed one notch higher from its fourth place position in the same period in 2019.
Data from the DOE also showed that Petron Corp. remained the biggest oil firm with 24.88-percent market share, followed by Pilipinas Shell Petroleum Corp. with 18.25 percent, Phoenix with 6.86 percent and Chevron Philippines Inc. with 6.13 percent.
“Despite the continuing challenges of COVID-19, we are grateful for the continued patronage of our loyal as well as new customers who appreciate the value that we provide through our high-performance and high-quality yet competitively priced products and services,” Phoenix president Henry Albert Fadullon said in a statement over the weekend.