Pressed by COVID-19 and the oil price war between Russia and the OPEC, local petroleum manufacturers expect great plunges in revenue.

Foreign petrol distributors have set foot in the Vietnamese market, but they will have to confront Petrolimex, the giant which holds 50 percent of market share, and other rivals. 

Vietnamese petroleum companies have enough time to build facilities and develop networks to prepare for competition with foreign distributors once Vietnam opens the petroleum market, experts say. 

 VietNamNet Bridge – Japanese JX Nippon Oil & Energy is expected to enter the Vietnamese petroleum retail market, which has yet to open to foreign investors.

 VietNamNet Bridge – Petroleum enterprises, which are in the state of “willing speech but unwilling heart”, have decided to claim back hundreds of billions of dong worth of tax they paid before.