Phoenix is engaged in the business of trading refined petroleum products and lubricants, operation of oil depots and storage facilities, and allied services.

It was originally incorporated on May 8, 2002 as Oilink Mindanao Distribution, Inc., and changed its name in January 2004 to Davao Oil Terminal Services Corporation (DOTSCO).

The small family business began operations in its current form thereon, distributing petroleum products to various commercial entities in Mindanao.

Phoenix received certification for ISO 9001:2000 quality system standards for its Davao bulk plant and aviation fuel tank truck operations in 2008.

As part of the partnership, Phoenix Petroleum will also conduct NBA-themed promotions in 300 service stations nationwide, giving fans in the provincial areas a chance to win exciting prizes and unique NBA experiences.

On January 22, 2024, Phoenix announced that it temporarily halted importation of diesel and gasoline products since March 2023 due to price volatilities.

[13] These involve leasing storage space in its terminal depot, hauling, and into-plane services in the cities of Davao, Cagayan de Oro, Cotabato, Zamboanga, and Ozamiz.

The Calaca terminal at the industrial park is the largest depot yet of Phoenix and the company's first in Luzon, with its capacity of 50 million liters (13,000,000 U.S. gal).

[16] Phoenix has other depots in Davao City, Aklan (New Washington), Surigao del Norte (Claver), Batangas (Calaca), Cagayan de Oro, Cebu (Consolacion),[17] and Bacolod.