New strategic orientations for Petrolimex suggested
Head of the Party Central Committee’s Economic Commission Tran Tuan Anh held a working session with the Vietnam National Petroleum Group (Petrolimex) in Hanoi on March 31.
The Hai Thach 1 oil rig under the Bien Dong 1 project (Photo: VNA)
Hanoi (VNA) – Head of the Party CentralCommittee’s Economic Commi🌃ssion Tran Tuan Anh held a working session with the Vietnam National Petroleum Group (Petrolimex) inHanoi on 🅰March 31.
Anh, who isalso head of the Steering Committee for the building of a project on reviewing the implementationof the Politburo’s Resolution on the strategic orientations for the developmentof the Vietnamese petroleum industry by 2025, with a vision to 2035, askeddelegates to discuss Petrolimex’s production and trade situation since the issuanceof the Resolution, focusing on shortcomings, difficulties, their causes andsuggestions regarding policies, mechanisms, legal regulations, particularly petrolprice and market management, investment procedures, business development,national petroleum reserve as well as the construction, management, andoperation of warehouse-port system.
He askedfor clarifying the restructuringof Petrolim🎉ex in line with divestment and equitisation roadmap, and majororientations to international cooperation with strategic partners associatedwith the production, processing and distribution of new and clean energyproducts.
The meeting between head of the Party Central Committee’s Economic Commission Tran Tuan Anh and Petrolimex on March 31 (Photo: VNA)
Chairman of Petrolimex’s Board of Directors PhamVan Thanh said Petrolimex now has 75% of its capital owned by the State. It is the biggest entity in the downstream petroleumdistribution process and plays a leading role in stabilising the petroleummarket, meeting 45% of the total national gasoline demand. In itsstrategic orientation, Petrolimex aims to become the biggest Vietnamese dealerof clean and eco-friendly energy products by 2030. It also looks to maintainits position as one of the largest groups in Vietnam and lead the downstream petroleum business operations. Anh agreedwith Petrolimex’s suggestions, including creating favourable conditions for thegroup to develop clean, green and renewable energies and engage in sustainabledevelopment. In his view,it is necessary to issue the Politburo’s new Resolution on strategic orientations for the development of the sector. He believedthat with efforts of its staff and support of ministries and agencies,Petrolimex will score breakthrough development in the near future./.
Vietnam National Petroleum Group (Petrolimex) just approved the resolution of the Board of Directors on a plan to disinvest in Petrolimex Group Commercial Joint Stock Bank (PG Bank).
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The Hai Thach 1 oil rig under the Bien Dong 1 project (Photo: VNA) 
The meeting between head of the Party Central Committee’s Economic Commission Tran Tuan Anh and Petrolimex on March 31 (Photo: VNA) 
