Phoenix Petroleum Philippines Inc. said its board of directors approved and authorized the company’s strategic partnership with Singapore-based firm Pertamina International Marketing and Distribution Pte. Ltd. for fuel product supply and other trading activities in both countries.
In a disclosure to the Philippine Stock Exchange, Phoenix Petroleum said the partnership is part of the company’s growth plans in Southeast Asia.
Phoenix Petroleum earlier form subsidiary in Singapore called PNX Energy Intl. Holdings Pte. Ltd to manage its international investments. — Jed Macapagal