The Vietnamese Government has given green light to foreign investors to invest in developing oil and gas storage and supply infrastructure system, but they cannot participate in distributing, importing and exporting petroleum.
The Vietnam National Petroleum Group (Petrolimex) aims to achieve a pre-tax profit of over 3.2 trillion VND (139.1 million USD) this year, up 42% annually.
Vietnam’s PetroVietnam Oil Corporation (PV OIL), is running profitably in Laos, earning an average revenue of over 100 million USD and contributing over 20 million USD to Laos’s budget a year.