Petrolimex to sell Euro 5 diesel in 2018

Business News

Petrolimex to sell Euro 5 diesel in 2018

Wednesday, December 20,2017

AsemconnectVietnam - Viet Nam National Petroleum Group (Petrolimex) plans to sell diesel meeting Euro 5 emissions standards from January 1, 2018, becoming the first company to distribute diesel of the highest quality in Viet Nam.

At a press conference on Tuesday, deputy director general of Petrolimex Nguyen Quang Dung said some 70 per cent of Petrolimex stations will sell Euro 5 diesel on the first day of 2018. Its price will be some VND15,210 (67 US cents) per litre, just around VND50 higher than diesel oil meeting Euro 2 and Euro 3 emissions standards.

Although Viet Nam only requires the Euro 4 standard for diesel vehicles from 2018, Petrolimex’s move to supply Euro 5 diesel oil ahead of the schedule is part of the corporation’s business strategy of competing through quality products and professional services, Dung said.

The use of Euro 5 diesel will help reduce emissions in the environment while increasing the endurance and capacity of vehicles thanks to the low ratio of sulfur, which is safer for users.

Petrolimex also began supplying Euro 4 RON 95 petrol from early 2017 and bio-fuel E5 RON 92 since December 15. It will stop selling mineral petrol RON 92 from the beginning of 2018.

Currently, 82 per cent of its stations sell bio-fuel E5 RON 92.

Petrolimex reported revenue of VND152.9 trillion in 2017, representing a rise of 7 per cent over the previous year.

Its before-tax profit reached more than VND4.73 trillion, 1 per cent higher than the target.

At the conference, Dung also said Petrolimex will invest some VND1 trillion in developing its petrol and oil retail stations nationwide in 2018 to cope with competition from the participation of foreign companies in the petrol retail market.

“The participation of other companies in the petrol retail market, especially foreign investors, is a normal thing for us,” Dung said.

Petrolimex is the largest oil and petrol retailer in Viet Nam with market share of some 50 per cent and more than 2,400 stations across the country.

Source: Bizhub.vn

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