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The recent fuel shortages happened because retail prices did not follow the market economy principles, and the government cannot mandate prices, Prime Minister Pham Minh Chinh said. “Businesses only operate if they gain profits. It is difficult for the…
Deputy Director General of Vietnam National Petroleum Group (Petrolimex) Dao Nam Hai will become its director general (DG), starting Mar. 1. He replaces Pham Duc Thang who retired in November 2021. Holding two master degrees in law and business…
Vietnamese fuel distributors are negotiating with foreign suppliers to ensure adequate inventory for the holiday after the country’s biggest refinery cease imports due to cash shortage. PVOil, the second-biggest fuel distributor in Vietnam behind Petrolimex,…
Petrolimex has reported pre-tax profits of over VND1 trillion ($44 million) in the first quarter thanks to the Covid-19 pandemic being contained and rising global oil prices. It has made a loss of VND1.7 trillion in the same period last year. The management…
Japanese oil giant ENEOS Corporation has registered to buy 25 million shares of fuel distributor Petrolimex on the Ho Chi Minh Stock Exchange. The transaction, to be completed in March, if successful, will see ENEOS increase its stake in Petrolimex to 2.94…
Vietnamese petroleum retailer Petrolimex is planning to build a convenience-store chain. After five years of research, the group plans to open stores across its network of 5200 gas locations across the country. “Petrolimex will expand into this sector, each…
