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Vietnam: PVOIL Celebrates 10 Years

Vietnam: PVOIL Celebrates 10 Years

PVOIL has constantly improved after 10 years of establishment and development, being one of the leading companies in Vietnam's fuel retail market.

Ensuring to have a new look with renewed strength, PVOIL still has plenty of growth capability, when moving to the joint stock company model.

International crude export and import business; trading in fuel products; producing and processing fuel, lubricants, biofuels include PVOIL's business activities focus. Fuel distribution business accounts for 75% and international business accounts for 20% of PVOIL's total revenue.

For the sale of Vietnamese crude from the Vietnam National Oil and Gas Group, PVOIL is the only company in Vietnam that organizes marketing and commissioning services, creating a stable and effective revenue generating activity for PVOIL. With an average output of 7 million tons per year from domestic and imported sources, PVOIL is also the only unit to supply all crude oil for Dung Quat Refinery. PVOIL, in 2011, established a subsidiary in Singapore (PVOIL Singapore) to launch international fuel business. PVOIL Singapore, since inception, has successfully sold 7 million tonnes of crude on the international market.

Accounting for 22% of the domestic fuel market share, PVOIL confirmed the second position with the output of over 3 million m3 / tonne / year. With about 3,500 fuel stations (PVXIL) with the brand name of PVOIL, it owns distribution network in 63 provinces and cities nationwide. From 2% to 24% as of April 2018, PVOIL's current sales volume has grown several folds. PVOIL is ready for business expansion in the next 5-7 years, ensuring stocking, supplying the current system. With a total capacity of 2,000 m3 and 07 barges of 4,000 m3 capacity to carry cargo in the system, PVOIL currently has more than 100 fuel tankers. With 120 CHXDs located in convenient locations, PVOIL owns a wide and professional distribution network.

Capital has been contributed by PVOIL to build 3 biofuel production plants and invested 11 E5 fuel mixing stations. PVOIL supplied over 193,000 m3 of E5 fuel, 3.6 times more than the same period last year, after 4 months of mass E5 business launching nationwide. With over 140 types of lubricants from high quality materials, PVOIL's lubricants are branded PVOIL LUBE.

PVOIL is confident to continue on the new journey, with the results achieved over 10 years of formation and development. With the following targets set to be achieved by 2022: market share of 35%; Retail: 35%; S & T proportion: 35%, PVOIL has set a breakthrough target. On average more than 200 CHXD/year, PVOIL plans to develop more than 1,000 CHXD throughout the period, mainly through mergers and acquisitions (M & A).

The future development that PVOIL shows is a viable and promising trend, by the internal capacity of PVOIL, accumulated over 10 years on the solid foundation of investors and the potential of Vietnam fuel market. PWKD07062018

Last modified onWednesday, 06 June 2018 22:56
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