Malaysian energy giant Petronas and Phoenix Petroleum of the Philippines are joining forces to explore a partnership opportunity in the Philippines.
The companies have signed a memorandum of understanding to jointly explore potential collaboration in the downstream marketing business and associated technology solutions.
Under the MoU, Petronas and Phoenix will conduct a joint feasibility study to take their tie-up to the next phase of execution.
If materialised, the collaboration would give Phoenix access to Petronas’ branded marketing offerings, including its fuel and fluid technologies, while allowing the Malaysian company to expand its footprint into the Philippines.
The memorandum marks the second collaboration between the two companies after their 2017 agreement when Phoenix acquired Petronas’ entire liquid petroleum gas business in the Philippines, which now owned by the company’s subsidiary, Phoenix LPG Philippines.
“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,” said ,” Phoenix president, Henry Albert Fadullon.
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“That’s what we’re doing with Petronas. 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.”
Petronas vice president refining, marketing and trading, downstream business, Ahmad Adly Alias said: “Petronas is excited at the prospect of delivering an elevated fuel experience to customers in the Philippines.
“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 our range of offerings to deliver a seamless experience to more road users around the world.”