PETROLIMEX AND PVN ARE GOING TO JOINTLY CONTRIBUTE CAPITAL AND BUY THE SHARES OF PROJECTS

01/10/2018, 16:00 PM

Under the cooperation agreement signed on September 19, Petrolimex and PVN will jointly research to promote investment and business activities and support each other in technical facilities as well as expansion of business activities.

The goal of this work is to exploit the strengths of each party, which includes the potential of domestic and foreign markets in the traditional business sector as well as areas of interest to both party. Accordingly, the two groups can increase the value on the basis of compliance with the law.

Petrolimex and PVN are committed to prioritizing the use of each other's products and services. The parties also create advantageous conditions to support each other to develop production and business activities with a view to exploiting the maximum potential, enhancing efficiency, consolidating the position and strengthening the competitiveness of each party on the basis of voluntariness, equality, efficiency and guarantee benefits.

On the basis of the terms of this Agreement, Petrolimex and PetroVietnam will draw up a plan for the implementation of specific work and action plans to achieve the objectives agreed upon by both parties.

Mr. Tran Sy Thanh, PVN's chairman, commenting that it is an important event between a corporation specializing in manufacturing and a corporation specializing in trade and cooperation in the field of petroleum energy in the context of competition.

This cooperation aims to share benefits with the aim of benefiting the country, benefit for residents from quality to the price of gasoline. Immediately after the signing ceremony, the parties will concretize the cooperation in the consumption of petroleum from the Nghi Son Oil Refinery.

And Mr. Pham Van Thanh, Chairman of the Board of Directors of Petrolimex Group, saying that with the consumption system including 2,400 petrol stores nationwide, the cooperation of the two groups will make the domestic petroleum market stable and developed.

Source: cafef.vn

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