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, 2023.
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| New strategic orientations for Petrolimex suggested: The Hai Thach 1 oil rig under the Bien Dong 1 project. (Photo: VNA) |
Tran Tuan Anh, who is also Head of the Steering Committee for the building of a project on reviewing the implementation of the Politburo’s Resolution on the strategic orientations for the development of the Vietnamese petroleum industry by 2025, with a vision to 2035, asked delegates to discuss Petrolimex’s production and trade situation since the issuance of the Resolution, focusing on shortcomings, difficulties, their causes and suggestions regarding policies, mechanisms, legal regulations, particularly petrol price and market management, investment procedures, business development, national petroleum reserve as well as the construction, management, and operation of warehouse-port system.
He asked for clarifying the restructuring of Petrolimex in line with divestment and equitisation roadmap, and major orientations to international cooperation with strategic partners associated with the production, processing and distribution of new and clean energy products.
Chairman of Petrolimex’s Board of Directors Pham Van Thanh said Petrolimex now has 75% of its capital owned by the State. It is the biggest entity in the downstream petroleum distribution process and plays a leading role in stabilising the petroleum market, meeting 45% of the total national gasoline demand.
In its strategic orientation, Petrolimex aims to become the biggest Vietnamese dealer of clean and eco-friendly energy products by 2030. It also looks to maintain its position as one of the largest groups in Vietnam and lead the downstream petroleum business operations.
Anh agreed with Petrolimex’s suggestions, including creating favourable conditions for the group to develop clean, green and renewable energies and engage in sustainable development.
In his view, it is necessary to issue the Politburo’s new Resolution on strategic orientations for the development of the sector.
He believed that with efforts of its staff and support of ministries and agencies, Petrolimex will score breakthrough development in the near future.
(Source: VNA)
