Petrolimex to scale down its ¾ wholesalers

Vietnam National Petroleum Corporation (Petrolimex) will cut three-fourth of its wholesalers to 6-8 units from current 28 units to increase scale and create competition, the local newspaper Tuoi Tre (Youth) reported.

Petrolimex will focus on restructuring 3 sectors: administration, human resource and finance, the corporation confirmed on Feb 23, adding that it will establish yearly capital balance method, open many different capital mobilization channels, especially from the equitization.

At the same day, the corporation also signed the commitment of saving VND137 billion from cutting 5-10% costs or reducing VND15 for each selling litter of gas and oil in 2012.

Source TEI/StoxPlus

Tags: Petrolimex

Posted by VBN on Feb 24 2012. 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