Phoenix Petroleum Philippines, Inc. has finalized the sale of one of its non-essential assets as part of its ongoing efforts to streamline operations and improve network efficiency.

In a disclosure to the Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE) dated July 22, 2025, the company announced that its Board of Directors approved the sale of a gasoline station located in Brgy. Tayud, Consolacion, Cebu. The settlement, including all appurtenances on the property, was sold for PHP8.5 million to Light Fuels Corporation.

The transaction aligns with Phoenix Petroleum’s earlier disclosure made on October 26, 2023, in which it laid out plans to dispose of non-core corporate assets to optimize its operational footprint and support ongoing debt management efforts.

This move forms part of Phoenix Petroleum’s grander goal to rationalize its portfolio and strengthen its financial position amid shifting market dynamics.

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