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Phoenix Petroleum doubles earnings

Independent oil player says first semester revenues surpassed 2009 sales already
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Independent petroleum player Phoenix Petroleum Philippines, Inc. reported that its earnings more than double in the year’s first half.

Phoenix told the Philippine Stock Exchange that its net income from January to June rose 151 percent to P135.4 million from P54 million.

The company’s revenues for the first semester, P6.188 billion, already surpassed its full-year revenues of P 5.873 billion in 2009.  [Read Phoenix Petroleum reports surge in revenues here]

As of August 2010, the company had a total of 120 stations nationwide, with assets amounting to P6.159 billion. - Carlo P. Mallo

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