Phoenix inks deal with Noble Fuels

PUBLICLY-listed leading independent oil company Phoenix Petroleum Philippines, Inc. (PNX) has signed a non-binding memorandum of understanding (MOU) with Noble Clean Fuels Limited, a global oil trading company engaged in the businessof sourcing, supplying, and importing of various petroleum products, for apossible joint venture arrangement for the offshore supply of petroleumproducts and operation of import terminals within various parts of the country. The MOU between the two companies shall mull over and deepen a possible jointventure via strategic co-investments in brownfield assets of the Company andgreenfield developments which includes the operations of import terminals invarious locations in the country.Phoenix was represented by its President & CEO Dennis A. Uy while Noble CleanFuels was represented by Global CEO, William James Randall.

Phoenix Petroleum is the fastest growing oil company in the Philippines with anexpanding network of operations nationwide. It has opened a total of 495stations as of the end of September 2016. The company is engaged in thebusiness of trading refined petroleum products and lubricants, operation of oildepots and storage facilities, shipping and logistics, and allied services. PR