PETRONAS and Phoenix Petroleum have signed a Memorandum of Understanding (MOU) to jointly explore a partnership in the Philippines, which includes downstream marketing business and associated technology solutions. This will see the two companies come together to create a unique experience, capitalizing on high-quality fuels and innovative digital solutions. If materialized, the collaboration will give Phoenix access to PETRONAS' branded marketing offerings, including its fuel and fluid technologies, while allowing PETRONAS to expand its footprint into the Philippines.

Under the MOU, PETRONAS and Phoenix Petroleum will conduct a joint feasibility study to take the collaboration to the next phase of execution.