PV Oil to build fuel plant in Cambodia

PetroVietnam Oil Corporation (PV Oil) is working on a project to build a gasoline and diesel oil manufacturing facility in Cambodia with an initial annual capacity of around 200,000 tons.

The affiliate of the state-owned Vietnam National Oil and Gas Group will spend a total of some US$50 million constructing the plant.

Le Nhu Linh, chairman of PV Oil, told the Daily late last week that the project would make it easy for the corporation to distribute its fuels in Cambodia, instead of transporting them from Vietnam as now.

Linh of PV Oil did not mention when work would start on the project but said the corporation was in talks with a Cambodian partner that has an available fuels distribution system to carry out this project.

PV Oil is also active in a number of regional markets. In neighboring Laos, PV Oil has a distribution system of 72 retailers accounting for around one-third of the fuels market, Linh said, adding it was in the process of expanding its fuels trading operations in Myanmar.

PV Oil is now responsible for about 22% of Vietnam’s total oil and gasoline market with a network of some 2,000 retailers around the country. It is looking to dominate 50% of the country’s oil and gasoline market with an estimated supply of some five million tons by 2015.

Tags: PV Oil