Chelsea said the tugboats are targeted to be operational this month and will bring the firm’s total tugboat fleet to nine. Phoenix Petroleum buys 650K cylindersMeanwhile, Uy said his independent oil company Phoenix Petroleum Philippines, Inc. has acquired more than 600,000 gas cylinders which will be delivered on a programmed basis in 2018. Phoenix Petroleum is engaged in the trading and marketing of refined petroleum products, including LPG, and lubricants, the operation of oil depots and storage facilities, hauling and into-plane services. It reported a 59 percent growth in net income in the first nine months of the year to P1.44 billion. Shares of Phoenix Petroleum rose P0.10 to end at P12.20 on Wednesday.

Source: Manila Times December 13, 2017 17:48 UTC