News Release

President Duterte attends Phoenix Petroleum’s 10th listing anniversary


President Rodrigo Roa Duterte on Tuesday, July 11 graced the 10th listing anniversary of Phoenix Petroleum Philippines Inc. expressing his gratitude to the company for its corporate social responsibility programs.

In his speech at the PSE Plaza in Makati City, the President congratulated the company for its listing anniversary, noting that as former mayor of Davao City, he personally witnessed how it succeeded from a single gasoline station in the city into one of the fastest-growing oil companies in the country.

“I am also grateful that you continue to share your successes for spearheading socio-civic programs for the benefit of local communities,” Duterte said.

He said the government for its part is trying its best to create an environment conducive to investment and establish a harmonious working relationship with investors.

“As a result, any new player in the downstream oil industry — in fact, in any industry — can make it big and succeed,” he added.

In addition, the Chief Executive said his administration will continue to institute reforms and implement policies for economic growth to become more sustainable.

“This is part of our mission of reassuring shareholders that we do business here in the Philippines with ease,” he said.

The President hopes that the inspiring story of Phoenix Petroleum will encourage other companies to invest in the Philippine Stock Exchange, especially aspiring businessmen.

Phoenix Petroleum, the first company from Davao City to join PSE, held its initial public offering on July 11, 2007. It is the first oil company to go public after the passage of the Oil Deregulation Law in 2008.

During his speech, President Duterte reiterated his commitment to fulfill his campaign pledge of eliminating corruption in government.

“Maski lang naman sa panahon ko, ako probinsyano, at least sa panahon ko, ma-minimize ko lang naman if not totally improve the economy by cutting first on I said what fundamentally ails this country and that is corruption,” he said.

According to the President, he has fired government officials who are involved in corrupt activities.

At the same time, the President noted that it is the Filipinos who can truly halt corruption.

“Alam man ninyo ho, hindi ko kaya talaga ako lang. Ang makahinto ng corruption sa gobyerno, kayo lang, sa totoo lang,” he said.

Meanwhile, with regard to the conflict in Marawi, the President is optimistic that government troops can finish the rebellion in the Islamic City soon.

“I hope that things can… I need about 15 more days. Hindi lang kasi ba’t nahirapan tayo, we knew that they were sorts, nandoon na lahat. But ang hindi ko talaga alam at baka si ano hindi din talaga namin — na-miss ano namin is — karami ng armas. Hindi maubusan,” he said. ###PND