Kuala Lumpur (VNA) – Malaysia’s Petroliam Nasional Bhd (PETRONAS) andthe Philippines’ Phoenix Petroleum have inked a memorandum of understanding(MoU) to jointly explore a partnership in downstream marketing business andassociated technology solutions in the Philippines.
Accordingly, the two sides will conduct a joint feasibilitystudy to take the collaboration to the next phase of execution.
According to PETRONAS, the collaboration would give Phoenix Petroleumaccess to its branded marketing offerings, including fuel and fluidtechnologies, while allowing the Malaysian group to expand its footprint into thePhilippines.
The MoU marked the second cooperation between the twocompanies after their first agreement in 2017 when Phoenix Petroleum acquiredPETRONAS’ entire LPG business in the Philippines.
PETRONAS has presence in over 90 countries including thelargest retail footprint in Malaysia with more than 1,000 stations, whilePhoenix Petroleum is a company with close to 700 retail stations across thePhilippines./.
Accordingly, the two sides will conduct a joint feasibilitystudy to take the collaboration to the next phase of execution.
According to PETRONAS, the collaboration would give Phoenix Petroleumaccess to its branded marketing offerings, including fuel and fluidtechnologies, while allowing the Malaysian group to expand its footprint into thePhilippines.
The MoU marked the second cooperation between the twocompanies after their first agreement in 2017 when Phoenix Petroleum acquiredPETRONAS’ entire LPG business in the Philippines.
PETRONAS has presence in over 90 countries including thelargest retail footprint in Malaysia with more than 1,000 stations, whilePhoenix Petroleum is a company with close to 700 retail stations across thePhilippines./.
VNA
