PetroVietnam expands investment in Laos

The PetroVietnam Oil Corporation (PV Oil) held a ceremony in Vientiane on April 3 to launch the PetroLao Oil one-member Limited Liability Company (PV Oil Laos).

PV Oil Laos is headquartered in Vientiane with a charter capital of more than US$3 million to specialize in importing and trading oil and petrol products, wood, coffee, tea and other agricultural products.

Dinh La Thang, member of the Communist Party of Vietnam Central Committee (CPVCC) and Chairman of the Vietnam National Oil and Gas Group (Petro Vietnam) affirmed that putting PV Oil Laos into operation was an important event for PetroVietnam which marked a milestone in the group’s development as well as its business and production expansion overseas.

Mr Thang believed that PV Oil Laos will contribute to boosting the socio-economic development in Lao, meeting the Laos’ consumer demand for oil and gas products, and tightening trade ties between both nations.

For his part, Lao Minister of Industry and Trade Nam Vinhaketh praised the launch of PV Oil Laos and pledged to create favourable conditions for the company to operate effectively, contributing to strengthening the special friendship and comprehensive cooperation between the two countries. – VOV

Tags: PetroVietnam

Posted by VBN on Apr 4 2011. Filed under Oil-Gas & Petroleum. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry