MANILA — Phoenix Petroleum Philippines and Cebu Pacific have signed a five-year Jet A-1 fuel supply contract and fuel barging services for the latter’s airline operations in Luzon, the Visayas and Mindanao.
”The signing covered contracts for Jet A-1 fuel supply in Subic; fuel storage, handling, and into‐plane services in Mindanao, Aklan and Cebu for five years; and fuel barging services for five years through wholly‐owned subsidiary Chelsea Shipping Corporation,” Phoenix said in a disclosure with the Philippine Stock Exchange (PSE) on Monday.
The contract was signed by Phoenix Petroleum President and Chief Executive Officer (CEO) Dennis Uy and Cebu Pacific President and CEO Lance Gokongwei on Feb. 3, 2015 at the Cebu Pacific Airline Operations building in Pasay City.
Phoenix said the recently signed contract is on top of the 10-year renewable supply contract for Cebu, which was signed last year.
It stressed it has formerly provided Jet A-1 fuel storage, handling, barging, bridging and into-plane services to Cebu Pacific’s operations nationwide.
Phoenix Petroleum is engaged in business of trading refined petroleum products and lubricants, operation of oil depots and storage facilities, shipping/logistics and allied services.
Meanwhile, Cebu Pacific is an airline operator offering 24 international and 33 domestic destinations.