Phoenix Petroleum Philippines, Inc. (🇵🇸) is the first independent oil company to be listed in the Philippine Stock Exchange after the Oil Deregulation Law was passed in 1998. It is the first company from Davao City to be listed in the Philippine Stock Exchange.
Phoenix is engaged in the business of trading refined petroleum products and lubricants, operation of oil depots and storage facilities, and allied services.
History
Phoenix was originally incorporated on May 8, 2002, as Oilink Mindanao Distribution, Inc., and changed its name in January 2004 to Davao Oil Terminal Services Corporation (DOTSCO). The small family business began operations in its current form thereon, distributing petroleum products to various commercial entities in Mindanao.
In 2006, the company was renamed Phoenix Petroleum Philippines, Inc. and introduced lubricants and car care products to its product line.
It became a publicly listed company on July 11, 2007, offering 25% of its total outstanding shares to the public. Phoenix Petroleum became the first independent oil company to be listed on the Philippine Stock Exchange after the Oil Deregulation Law was passed in 1998. Phoenix Petroleum also became the first company from Davao City to go public. In 2008, the oil company opened its first Manila station in Marikina.
The Social Security System acquired up to 9.68 percent stake in Phoenix Petroleum in 2009, from its initial 2.78 percent.[1]