Incorporated in May 2002 in Davao City, Phoenix Petroleum Philippines, Inc. has grown from a simple family venture to one of the most successful businesses in Davao and the Southern Mindanao area.

The company, then under the name Davao Oil Terminal Services Corporation (DOTSCO), began operations in its current form in January 2004, distributing petroleum products to various commercial entities in Mindanao. In August 2006, the company was officially renamed to Phoenix Petroleum Philippines, Inc.

Today, Phoenix Petroleum is engaged in the business of trading refined petroleum products, lubricants and other chemical products, 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 Life" trademark.

Since September 2004, Phoenix Petroleum has been the exclusive logistics partner of Cebu Pacific, one of the biggest airlines in the Philippines. Under the partnership, Phoenix services all refueling requirements of Cebu Pacific in all its Mindanao destinations.

In June 2005, Phoenix Petroleum opened its first retail service station. At end of 2007, the number of stations had grown to more than 50 in southern Mindanao. Phoenix targets a total of 100 service stations by end of 2008.

From petroleum, Phoenix expanded its product line by introducing lubricants (December 2006) and car care products (March 2007).

To ensure seamless 24/7 logistics chain for clients, Phoenix Petroleum entered into a long term arrangement with affiliate company Chelsea Shipping, which acquired a vessel dedicated to Phoenix Petroleum's use. M/V Chelsea Denise had its maiden voyage in February 2007.

Phoenix also operates its own fleet of trucks that deliver products to customers 24 x 7 thru its subsidiary, Petrologistix Inc.

In July 2007, Phoenix started implementation of an SAP-based integrated computer system. The system automates transaction processing from the time products are procured until they are delivered to clients, greatly enhancing operations efficiency.

In February 2008, Phoenix received a certification for ISO 9001:2000 quality system standards for its Davao bulk plant and aviation fuel tank truck operations.

Phoenix Petroleum has created partnerships with major petroleum companies to widen product range and strengthen operation.

In July 11, 2007, Phoenix Petroleum under the symbol PNX launched its initial public offering, becoming the first independent oil company to be listed in the Philippine Stock Exchange after the oil deregulation law was passed in 1998. Phoenix Petroleum also became the first company from Davao City to be listed in the stock exchange.

The initial public offering of Phoenix was so successful that it was 15 times oversubscribed. The IPO price offered at P9.80 soared to a high of P14.50, valuing the company at P2 billion at its peak.

For photos of the IPO, click here

In preparation for expansion into the Luzon market, Phoenix Petroleum intends to buy out Bacnotan Industrial Park Corp. (BIPC). BIPC is the operator of the Batangas Union Industrial Park (BUIP) located in Calaca, Batangas. Phoenix's wholly owned subsidiary Petroterminals Philippines Inc. operates BUIP's depot and terminal facilities.

In the next five years, Phoenix plans to expand its retail station network. By the end of 2012, Phoenix expects to have a total of 400 retail stations opened.

On May 2008, a depot facility in New Washington, Aklan was inaugurated. Phoenix Petroleum is constructing additional storage terminals and depots in Batangas, Bacolod, General Santos, Cagayan de Oro, and Zamboanga, bringing total capacity to at least 100 million liters. All depots will have their own pier and receiving facilities that can handle vessels carrying up to 10 million liters. These terminals will serve as the backbone of the retail network, the terminaling and storage business, as well as possible importation program of the company.