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Phoenix Petroleum says domestic market share grew despite pandemic

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ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2021/business/07/19/phoenix-petroleum.jpg"/><figcaption>Phoenix Petroleum says it has retained its place as the third-biggest oil player in the country. <em>Handout</em></figcaption></figure></div><p>MANILA – Phoenix Petroleum on Monday said it has kept its position as the third-biggest oil player in the country after its domestic market share grew in May despite the COVID-19 pandemic.</p><p>Its domestic market share rose to 7.81 percent as of May 25, compared to the 7.1 percent at the end of 2020, Phoenix Petroleum said in a disclosure to the stock exchange, citing data from the Department of Energy.</p><p>“Despite challenges and setbacks, we’ve remained determined and optimistic throughout this pandemic and I’m glad that our efforts are bearing fruit,” Phoenix president Henry Bong Fadullon said.</p><p>“We are proud and grateful that even with the difficulties that the pandemic has caused we are able to continue cultivating our business while serving even more communities,” he added.</p><p>Phoenix Petroleum said its second-quarter yielded “stellar results” with its April business results exceeding pre-COVID levels for the first time since the onset of the pandemic. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/03/31/21/phoenix-petroleum-posts-p63m-net-income-in-2020-despite-challenging-year">Phoenix Petroleum posts P63M net income in 2020 despite &#x27;challenging&#x27; year</a></li>	<li><a href="https://news.abs-cbn.com/business/03/23/21/dennis-uys-phoenix-selling-assets-to-pay-debts">Dennis Uy&#x27;s Phoenix selling assets to pay debts</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1421056" width="100%"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

<p> Phoenix Petroleum on Monday said it has kept its position as the third-biggest oil player in the country after its domestic market share grew in May despite the COVID-19 pandemic.</p>

Phoenix Petroleum on Monday said it has kept its position as the third-biggest oil player in the country after its domestic market share grew in May despite the COVID-19 pandemic.