Phoenix Petroleum Philippines, Inc. announced that it has appointed Ms. Ma. Concepcion F. De Claro as the company's new chief finance officer, replacing Mr. Joseph John L. Ong, who will move to his new role as treasurer and head of corporate finance. The appointments are effective May 1, 2018, and were made in view of the company's aggressive growth plans.

Ms. De Claro has 36 years of extensive experience in financial management and corporate planning mainly with the energy and oil industry. She joined company's parent company UDENNA Corporation in 2015 as director of mergers & acquisitions. Prior to this, she was chief operating officer of Alsons Corporation and a director of Alsons Prime Investments Corporation and Alsons Power Holdings Corporation.

She was previously vice president for corporate planning at Petron Corporation where she worked for 18 years, and was also with Philippine National Oil Corporation for 10 years. She is a certified public accountant from Colegio de San Juan de Letran. Mr. Joseph Ong joined the company in 2010.

As CFO, he led many firsts in equity and debt-raising activities. As treasurer and head of corporate finance, he will be responsible for raising capital and for managing the company's capital structure, and will work closely with the CFO on these. The company has relied on the capital markets to fund its expansion plans, and this new role ensures that the company's capital structure will be managed and optimized to ensure continuous shareholder value creation.

Mr. Ong remains as a member of the company's board of director.