Shell targets 13 pct market share in Vietnam

Anglo-Dutch oil giant Shell said Thursday it wants to expand its share of the Vietnam market, expected to grow 7-8 percent a year, to 13 percent in coming years.

Shell has predicted an annual growth of 4-6 percent in the Asian market over the next few years.

The group’s market share in Vietnam is estimated between 8 and 10 percent and it is targeting double digit growth here, Tim Ford, Vice President of Shell Lubricants in the Asia-Pacific region, said during his visit to the country.

Ford said Shell will build more plants in Vietnam, but he did not give out further details, saying investment depends on government policies.

Shell is trading several products in Vietnam including lubricants, chemicals, asphalt and gas.

TBKTSG

Tags: Shell, Vietnam oil, Vietnam oil market