Phoenix Petroleum eyes Southeast Asia expansion with Indonesian firm partnership


Posted at Sep 10 2020 01:19 PM

Phoenix Petroleum. Mark Demayo, ABS-CBN News

MANILA - Phoenix Petroleum Philippines Inc said Thursday its board approved a plan to partner with the Singaporean unit of state owned PT Pertamina Indonesia for fuel product supply and other trading activities in Indonesia and the Philippines. 

The board of directors approved and authorized the company to enter into a "strategic partnership" with Pertamina International Marketing and Distribution Pte Ltd, the Singapore-based subsidiary of PT Pertamina Indonesia, Phoenix Petroleum told the stock exchange. 

"This partnership is part of the company's growth plans in Southeast Asia," the statement said.

No other details were disclosed.