SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)

Jan 22, 2024

2. SEC Identification Number

A200207283

3. BIR Tax Identification No.

006-036-274

4. Exact name of issuer as specified in its charter

P-H-O-E-N-I-X PETROLEUM PHILIPPINES, INC.

5. Province, country or other jurisdiction of incorporation

Davao City, Philippines

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

STELLA HIZON REYES ROAD, BO. PAMPANGA, DAVAO CITY Postal Code 8000

8. Issuer's telephone number, including area code

(+63)82-235-8888

9. Former name or former address, if changed since last report

N/A

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
COMMON SHARES	1,442,216,332
PREFERRED SHARES	14,500,000

11. Indicate the item numbers reported herein

--

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Phoenix Petroleum Philippines, Inc.PNX

PSE Disclosure Form 4-13 - Clarification of News Reports References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Clarification of news article

Source	www.bilyonaryo.com
Subject of News Report	Strategic move: Dennis Uy has stopped Phoenix’s diesel,gasoline imports since March 2023 due to moneyproblems
Date of Publication	Jan 21, 2024

Clarification of News Report
We write in response to your correspondence seeking clarification and further information contained in the news article posted in an online dated January 21 entitled, “Strategic move: Dennis Uy has stopped Phoenix’s diesel, gasoline imports since March 2023 due to money problems” posted in Bilyonaryo.com which states in part: “Phoenix Petroleum (PNX) of Duterte crony Dennis Uy has reportedly stopped its importation of diesel and gasoline over the last 10 months. A Babbler revealed that PNX had notified the Department of Energy in early March that it would stop the importation of diesel and gasoline until the end of 2023. Babbler said PNX has yet to make a decision whether to resume diesel and gasoline imports this year. To renew its accreditation as an importer of diesel and gasoline, PNX is required to submit an application with the DOE. The company has retained only the importation of liquefied petroleum gas (acquired from Petronas Energy Philippines in 2017) and asphalt. We confirm that the Company has temporarily halted its importation operations of diesel and gasoline since March 2023. Please note that under current trading conditions such as but not limited to price volatility, the Company finds it more favorable to buy domestic fuels than imported fuels. This way, it allows the Company to manage its resources as well as reduce and manage risks due to inventory losses. Nonetheless, should trading conditions change, the Company will evaluate its supply approach and strategy. We have no further relevant information needed to be disclosed. We hope we have clarified the matter from our end.
Other Relevant Information
--