PV OIL - A Shining Brand

Assigned to sell petroleum products refined by the country’s first refinery, Dung Quat, PV OIL is proud to serve as a bridge to bring Vietnamese-branded petroleum products to consumers. Until now, PV OIL has a country-wide distribution system with more than 2,000 general agents, agents and filling stations, capable of meeting approximately 30 percent of domestic market demand. As the sole exporter of crude oil produced in Vietnam and the only seller of crude oil produced by Vietnam National Oil and Gas Group (PetroVietnam) in foreign countries, PV OIL has so far exported over 230 million tonnes of crude oil and built the full confidence of oil and gas contractors, field operators and international customers like Shell, BP, Chevron, ExxonMobil and Sinopec.

 

In addition to safely exporting crude oil produced in Vietnam, PV OIL also focuses on reaching out and cashing in on every opportunity to sell crude oil produced by PetroVietnam’s overseas projects in South America, North Africa, Russia, CIS countries and Southeast Asia. Besides, PV OIL is also a leading petroleum trader in Vietnam in both importing and retailing, asserting its increasingly important role in stabilising the market and ensuring energy security for national development.

 

Defining that development of alternative clean, environment-friendly energy is an important task and implementing the Prime Minister’s Decision 177/2007/QD-TTg on ratification of “biofuel development project to 2015, and vision towards 2025,” PV OIL has aggressively built production facilities and retail systems together with completing legal procedures to sell E5 gasoline, which has reached eight major provinces and cities across the country. Particularly in 2010, PV OIL produced 42,000 cubic metres of E5 gasoline. Under the plan, by the end of 2011, PV OIL will have some 400 stores nationwide to sell approximately 50,000 cubic metres of E5 bio gasoline to the market.

 

To become a leading oil corporation in the country and operate on par with regional and international oil companies, PV OIL is actively building petroleum storage depots across the country. Investment activities will be accelerated in the coming time to raise storage capacity to over 2 million cubic metres to meet nearly 50 percent of domestic demand, with plans to raise storage capacity to 4 - 5 million cubic metres in 2015. In addition to investing to enhance production and business capacity and capital utilisation efficiency, PV OIL has taken part in supporting industry investment projects while focusing on boosting production and business capacity. PV OIL pools capital to expand distribution systems, storage tank systems, tank trucks, transport networks, and infrastructure systems.

 

Recognizing that corporate restructuring not only helps PV OIL to complete its organisational apparatus model to seize new opportunities and attain sustainable development to maximise long-term corporate value, but also creates new driving force to boost production activities, improve the quality and productivity of human resources, PV OIL, in addition to its successful transformation and establishment of nine new joint stock companies, is also preparing to set up PV Oil International Trading Company in Singapore to trade oil on international markets and import petroleum and crude oil for Vietnam.