Dennis Uy-led Phoenix Petroleum announced it will bring its product line of lubricants in Indonesia through its newly established overseas subsidiary Phoenix Petroleum Indonesia.
The oil firm’s lubricant brand PNX Lubricants will be its first item to be offered to customers in the new foreign market. It will particularly be available for consumer and commercial vehicle segments, including motorcycles and cars though selected distribution partners in the archipelago.
Phoenix Vice President for Integrated Marketing and Strategy Ma. Celina Matias said this is an opportunity for the company to bring value and best experience to Indonesian motorists since the country has the highest motorcycle and car population in the region.
Matias further noted that the product lines under PNX Lubricants are designed to address Indonesia’s traffic and weather conditions.
Jakarta-based Phoenix Petroleum Indonesia is another addition to the company’s overseas ventures. Phoenix already has two international operations, including an oil and liquefied petroleum gas (LPG) trading desk through PNX Singapore and an LPG marketing and trading venture under Phoenix Gas Vietnam.
Phoenix President Henry Albert Fadullon said this is a great opportunity for the company to expand their reach to a new territory and become a reliable partner to motorists in Southeast Asia.
Phoenix posted a Php121 million net income in the first quarter of 2021, reversing a Php386.3 million loss in the same period last year. It was also the only Big 3 player that posted a profit in 2020 despite the COVID-19 pandemic.
