Castrol, BP renew joint-venture contract with Petrolimex
The Castrol, BP and Vietnam Petroleum Corporation (Petrolimex) signed an agreement extending their joint-venture contract for the next 20 years, starting from 2022, during an online ceremony on December 6.
Hanoi (VNA) – The Castrol, BP and Vietnam PetroleumCorporation (Petrolimex) signed an agreement extending theirjoint-venture contract for the next 20 years, starting from 2022,during an online ceremony on December 6.
The joint-venture will continueoperating under the name Castrol BP Petco Co. Ltd.
During the event linking with Hanoi,Ho Chi Minh City and Melbourne, they reviewed achievements over the past threedecades and outlined orientations for future cooperation.
Founded in 1992, the Castrol BP Petco Co. Ltd now has over 90 distributorsnationwide, becoming one of the leading lubricant manufacturers in Vietnam.
🌠 Over the past three decades, the joint venture has generated stable jobs for workers in localities, service suppliers and retailers in Vietnam. Since 2012,it has been named among top 100 foreign contributors to the State budget./.
The Vietnam National Petroleum Group (Petrolimex) has met the majority of the goals set for the 2015-2020 period, paying nearly 188 trillion VND (about 8.036 billion USD) to the State budget while exhibiting strong performance in ensuring energy security, meeting demand for petroleum, and contributing to social welfare activities.
Vietnam’s largest petroleum retailer Petrolimex has reported that earned almost 1.27 trillion VND (55 million USD) in pre-tax profit in 2020, equivalent to 81 percent of this year’s target and down nearly 76 percent from 2019.
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At the event (Photo: Petrolimex) 
