Philippines Phoenix Petroleum To Distribute Emarat Lubricants
Phoenix Petroleum Philippines Inc., a local oil company planning to list on the stock exchange, said Thursday one of its wholly-owned subsidiaries recently signed a supply deal with UAE-based oil refiner Emarat.
The unit, Phoenix Global Mercantile Inc., will distribute Emarat’s high-grade lubricants in the Philippines, Phoenix Petroleum said.
Alberto Alcid, director for the lubricants and chemicals division, said in a statement that the company will import around 150,000 liters of lubricants every month from Emarat.
Phoenix Petroleum, whose initial public offering application is pending, is engaged in trading refined oil products, lubricants and other chemicals, and the operation of oil depots and storage facilities, mainly in Southern Philippines.