Update news Petrolimex

Foreign investors pouring more money into petrol market

An MOIT report shows there are 29 petrol distribution chains in Vietnam and the number has been increasing rapidly in the last year with at least five distributors set up this year. 

Petrolimex, Myanmar’s HTOO sign cooperation deal

The Vietnam National Petroleum Group and Myanmar’s HTOO Group of Companies have recently signed a deal in Hanoi, under which they will explore the possibility of jointly doing business in Myanmar. 

How high is the petroleum consumption in Vietnam?

VietNamNet Bridge - MOIT has said that it could not find exact statistics about the annual consumption of petroleum products in Vietnam when it was drafting the program on the crude oil and petroleum product storage system.

Thai bitumen tycoon takes over 41 plants, Petrolimex under pressure

VietNamNet Bridge - Vietnamese Petrolimex Petrochemistry will be under pressure as TASCO, the Thai bitumen manufacturer, has bought 41 plants in Vietnam and Indonesia from a French manufacturer.

Why do Japanese want a stake in Petrolimex?

VietNamNet Bridge - By the end of 2014, Petrolimex, the Vietnam Petroleum Import/Export Corporation (Petrolimex), held 48 percent of the domestic petroleum distribution market.

Plan to replace A92 with E5 could fail

VietNamNet Bridge - Doubts have been raised about the feasibility of a plan to replace A92 petrol with E5 biofuel, even though distributors have been told to stop selling A92 to focus on E5.

Petrol-pricing scheme unintelligible, experts say

VietNamNet Bridge - The average petrol import price in the last six months was 40 percent lower than that of the same period last year, but the retail price has decreased by 20 percent only.

Businesses anxious about higher petrol, electricity prices

VietNamNet Bridge – The recent moves taken by state-owned corporations and management agencies signal inevitable increases in petrol and electricity prices.

Ministries issue conflicting notices on petrol import tariffs

Ministries could not reach an agreement on retail petrol prices and import tariffs. They considered two options: raise the import tariff and cut the petrol retail price, or leave the import tariff unchanged and cut petrol prices sharply.

PTT wants Petrolimex to join refinery project

VietNamNet Bridge – Thailand’s PTT Public Company Limited, one of the two main investors of Nhon Hoi oil refinery complex, has proposed partnering with Vietnam National Petroleum Group to develop a multi-billion-dollar project

Japanese oil group eyes Vietnamese petroleum retail market

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

Japanese oil company signs MoU with eye on refinery

 A memorandum of understanding was signed between JX Nippon Oil & Energy Corp and the Viet Nam National Petroleum Group (Petrolimex) late last week in Ha Noi.


Standard Chartered picks up stake in leading agro firm; Vingroup buys supermarket chain from OceanMart; Lotte Centre Hanoi has a slump after its opening; Petrolimex earns US$67.3 million profit in nine months


 Mekong Delta farmers encouraged to grow GM maize; Tra fish distribution centre shaping at Belgian harbor; HCM City urges Dong Nai to build airport; Petrolimex bemoans low rate of return at 4.6%


 GDP grows significantly: HSBC; Shrimp producers face more scrutiny for chemical usage; Dong Nai revokes licences of delayed investment projects;

Ethanol plans still lack spark

 VietNamNet Bridge – The Vietnamese government is boosting preparations for the greater use of ethanol fuels across the country in order to meet an ambitious deadline for implementation.


 SBV to resume gold auctions if demand rises; Foreign banks invest US$1.5 bln in house construction chain; Railway corporation faces comprehensive inspection; Defects found in major expressway project; HCM City delays using automated customs system


 Ministry rejects fuel price hike proposal; Petrolimex’s announced losses turn out to be profits; Vinafood 2’s loose management at fault for massive losses; Bentley unveils official dealership in Vietnam


 Rice exports slump as prices rise; Vietnam needs to restructure tra fish sector; Seven new air routes to connect to Can Tho City; Local dairy firms hike prices in foreign brands’ footsteps;


 VietinBank’s bad debt ratio less than 1%; Experts: 20% ownership in local banks not attractive; Mechanization reduces 20% of sugarcane production costs; SOEs restructuring still at snail’s pace; Second SMEs Development program to be approved