Phoenix Petroleum opens oil terminal in Cebu

Independent oil player Phoenix Petroleum Philippines Inc. on Thursday said it opened a new oil terminal in Consolacion, Cebu.

The new terminal is its ninth facility in the country and its largest in the Visayas, the company noted in a disclosure to the Philippine Stock Exchange.

The Cebu terminal has a capacity of 15 million liters and can store diesel, gasoline, jet fuel, special fuel oil, and industrial fuel oil.

“The opening of our new terminal strengthens our foothold in the Cebu fuels market and improves our supply reliability in serving the needs of our commercial and retail businesses in the greater Visayas," Phoenix Petroleum President and Chief Executive Officer Dennis Uy said.

"This is part of our commitment to be an indispensable partner to our customers, wherever they may be,” Uy added.

The terminal was built to better serve the fuel and lubricant needs of the company's growing retail network and various commercial customers in the shipping, airlines, construction, mass transportation, and other industries in the Visayas.

The company primarily trades and markets refined petroleum products and lubricants. It operates oil depots and storage facilities. It is also in the business of hauling and into-plane services. — Ted Cordero/VDS, GMA News