Phoenix Petroleum Philippines, Inc. (PNX) was originally incorporated on May 8, 2002 as Davao Oil Terminal Services Corporation. On August 7, 2006, the Securities and Exchange Commission approved the change in the Company's name to its present one.
PNX was registered with the Board of Investments in 2005 as a New Industry Participant with new investment in storage, marketing and distribution of petroleum products pursuant to the Downstream Oil Industry Deregulation Act of 1998.
PNX is engaged in the business of trading refined petroleum products, lubricants and other chemical products on a wholesale basis, operation of oil depots and storage facilities, and allied services mainly in Southern Philippines. Its products and services are distributed and marketed under the PHOENIX Fuels LifeTM trademark.
The Company's operations are divided between trading, and terminaling and hauling services. Under trading, PNX offers its refined petroleum products and lubricants to retailers and commercial/industrial customers. The Company's terminaling and hauling services involve leasing of storage space in its terminal depot, and hauling and into-plane services, such as hauling of Jet A1 fuels to airports and refueling of aircraft, in Davao, Cagayan de Oro, General Santos City, Cotabato City, Ozamis City and Zamboanga City. Starting 2008, Cebu Pacific designated PNX as its exclusive logistics partner in these locations.
At present, PNX has six subsidiaries, namely, Petroterminals Philippines Corp., Petrologistix Services Corporation, Phoenix Global Mercantile, Inc., PFL Petroleum Management Inc., PHOENIX Philippines Foundation, Inc., and Bacnotan Industrial Park Corporation.
PNX has a total of 161 service stations, including 33 service stations in Luzon, 5 in Visayas, and 123 in Mindanao as of December 31, 2010.