Published March 28, 2020, 10:00 PM By Myrna M. Velasco
https://business.mb.com.ph/2020/03/28/phoenix-to-supply-fuel-to-power-firm/
The Uy-led Phoenix Petroleum Philippines Inc. has cornered a supply deal that entitles it to serve the fuel requirements of the power facilities of Global Business Power Corporation (GBP), a power firm majority owned by the Pangilinan-led Metro Pacific Investments Corporation.
In a statement to the media, Phoenix Petroleum said “GBP granted Phoenix a three-month exclusive contract to supply fuel to two of their power plants in Toledo City, Cebu.”
As emphasized by Phoenix Petroleum Chief Operating Officer Henry Albert Fadullon, the supply pact requires the monthly delivery of 1.1 million liters of fuel for the specified power plants of GBP.
The span of the fuel supply deliveries shall start from April and will conclude in June – which are basically the peak of the summer months.
Oil-fired power facilities are generally depended upon by the power system to meet peaking capacity needs – and these are critical assets to run as demand rises when temperatures ratchet up.
Fadullon said their oil firm is considerably a long-term partner now for GBP, having been its fuel supplier for the past five years already.
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