Vietnam National Petroleum Group (Petrolimex) was instituted from the equitization and restructure of Vietnam National Petroleum Corporation by Decision 828/QD-TTg of 31 May 2011 by The Prime Minister as a public company as per document 2946/UBCK-PLQH of 17 August 2012 by the State Securities Commission
Petrolimex main business scope is to import, export and deal in petroleum, refining and petrochemical products, invest in other fields which Petrolimex is operating and other sectors allowed by law.
Besides petroleum products, oils, greases, petrochemical products , liquefied petroleum gas (LPG) and oil transport, Petrolimex invest in such fields as engineering, installation, mechanical and oil equipment, insurance, banking and other commercial and services activities in which several trade marks are classified as leading brands of Vietnam as PLC, PGC, VIPCO, VITACO, PJICO…
In oil sector , Petrolimex continues its predominant role in domestic market as directed by the government. Together with other 29 oil source enterprises and 120 petro-oil distributors, Petrolimex ensures an abundant and timely supply of various oil species, meeting the country’s social and economic development, defense and security and people’s consumption. 43 out of 69 member companies of Petrolimex are directly dealing in oil products in 62 out of 63 provinces and cities. In foreign countries, Petrolimex has Petrolimex single-member company limited in Singapore, Petrolimex single-member company limited in Laos, and recently a representative office in Cambodia.
As far as oil retail is concerned, out of about 14,000 service stations by all economic sectors, 2,352 stations of Petrolimex are present all over the country, creating favourable conditions for the people to have direct access to Petrolimex goods and services. In remote and distant areas, in difficult and extreme difficult areas where business benefit is low but social and political significance is high, the market share of Petrolimex is higher than the average share of the group. Taken the country as a whole and the actual flow of sale in domestic market in 2013, Petrolimex actual share was about 50 percent.
Besides petroleum products, in Petrolimex service stations there are other goods and services such as lubricants, gas, insurance, banking…supplied by Petrolimex member units. Petrolimex is the first unit to apply the mode of paying for oil by Flexicard with multiple conveniences and toward express money transfer in Vietnam.
The forerunner of Vietnam National Petroleum Group was the Oil, lub and Grease Corporation which was set up by Decree 09/BTN of 12 January of 1956 by The Minister of Commerce and was reestablished by Decision 224/TTG of 17 April 1995 by the Prime Minister. Annual traditional day: 13th-March
Vietnam National Petroleum Corporation (Petrolimex)
(Period 12.01.1956 - 30.11.2011)
The forerunner of Vietnam National Petroleum Corporation was the Oil, lub and Grease Corporation which was set up by Decree 09/BTN of 12 January of 1956 by The Minister of Commerce and was reestablished by Decision 224/TTG of 17 April 1995 by the Prime Minister. Vietnam National Petroleum Corporation had 41 member companies, 34 branches and enterprises directly in line of member companies with 100% state capital, 23 equalized companies with dominant equity by Petrolimex, 3 joint venture companies with foreign equity and 1 branch in Singapore.
As a vital state enterprise of special classification and national coverage ensuring 60% of market share, Petrolimex always brought into full play its predominant role in stabilizing and developing the market in oils, petrochemical products meeting people’s demand, national economic development and defense security.
55 years of building and development of Vietnam National Petroleum Corporation was closely linked with historic events in the fight to defend and construct the country.
Period 1956-1975: Vietnam National Petroleum Corporation was entrusted with the task of meeting oil demand for the work of rehabilitation and development for socialist construction and the struggle to beat US war of destruction of the North; amply and timely supplied oil for the fight to liberate the South and reunite the country. By the outstanding achievements in this period eight (8) member units of Petrolimex were awarded with titles “Heroes of the People’s Armed Forces” , one person with title “Labour Hero” and 31 officers and men with titles “War Martyrs” while on duty.
Period 1976-1986 :Vietnam National Petroleum Corporation engaged in the rehabilitation of devastated oil facilities in the North, took over oil facilities and organized the system of oil distribution in the South, timely and amply supplied for people’s and defense need in order to heal war wounds and build socialism on national scale. In this period, the State granted Medal of Independence 2nd class for the Corporation, a Title of Labour Hero for an individual and many Labour Orders for collectives and individuals.
Period 1996-2011: Vietnam National Petroleum Corporation carried out the strategy of renovation and development in line with the Party and State policies, turning the business and production toward market economy with socialist orientation , step by step built the Corporation into a strong and dynamic national oil firm so as to engage in regional and world economic integration. In this period, the State granted Independence Order 1st class , Labour Exploit Order 2nd class for the Corporation, Titles “Labour Hero in Renovation Time” for two (2) units , 5 “National Emulation Fighters” and 114 Labour Orders for collectives and individuals.