INDEPENDENT oil company Phoenix Petroleum Philippines and low-cost carrier Cebu Pacific have renewed their jet fuel supply and services agreement for various locations.
In a disclosure to the Philippine Stock Exchange (PSE), Phoenix said the new deal covered contracts for Jet‐A1 fuel supply in Subic, Zambales as well as fuel storage, handling, and into‐plane services in Mindanao, Aklan and Cebu for five years.
The deal also covers fuel barging services for five years through Chelsea Shipping Corp., Phoenix’s wholly‐owned subsidiary.
These are in addition to the 10‐year renewable supply contract signed last year by Phoenix Petroleum and Cebu Pacific.
In 2014, both companies celebrated a decade of strong partnership.
The oil firm is the dominant supplier of Jet A‐1 fuel to Cebu Pacific nationwide, providing Jet A‐1 fuel storage, handling, barging, bridging and into‐plane services for the airline company.
Phoenix Petroleum claims to be the number one independent and fastest growing oil company in the country with an expanding network of operations nationwide.
It is engaged in the business of trading refined petroleum products and lubricants, operation of oil depots and storage facilities, as well as shipping/logistics and allied services.
On the other hand, Cebu Pacific is the largest domestic airline operator in the country, flying to 24 international and 33 domestic destinations. It is the sixth largest low‐cost carrier in the Asia‐Pacific region.
The contract signing was led by Phoenix president and CEO Dennis Uy and Cebu Pacific president and CEO Lance Gokongwei on February 3 at the Cebu Pacific Airline Operations building in Pasay City, Manila.