Phoenix Petroleum Philippines Inc. said its liquefied petroleum gas (LPG) business will help it achieve further growth this year after booking a P63-million net income last year amid the pandemic.
The company said the introduction of its LPG in canisters for low-income consumers is one of the steps taken to achieve this goal.
“In line with our value propositions of safety, affordability and reliability, our new LPG canister continues to delight Filipino homeowners… Making LPG more accessible to the most common Filipino consumers helps make communities safer and more resilient against fire accidents and emergencies, said Henry Albert Fadullon, Phoenix Petroleum president and chief executive officer.
Fadullon said last year, its LPG business experienced a 32-percent year-on-year volume growth while its overseas ventures, particularly in Vietnam also recorded a triple volume growth.
Fadullon said the canister format has been launched in Visayas and Mindanao in 2019 under a partnership with Philippine Eco-Gas Producer Cooperative (PEPC).
Each canister has a capacity of 200 grams of fuel and can provide up to two hours of cooking time depending on its use.
Citing PEPC estimates, Phoenix Petroleum said as of end 2020, it had 500,000 stainless steel canisters and 200,000 aluminum canisters in Visayas and Mindanao.
Data from the DOE showed as of first half 2020, Phoenix Petroleum had a market share of 6.86 percent in the fuels market and 6.57 percent for the LPG market. – Jed Macapagal
