Shell operates retail and commercial fuel and lubricant business in Laos. The deal is subject to approval of Vietnamese authorities.
PV Oil said that acquiring the Laos operations is the first step for the company to expand its market share in other countries. The company also intends to compete with other regional and international energy companies in the downstream business that includes refining, sale and distribution of petroleum products.
PV Oil exports crude oil produced in Vietnam. It also imports petroleum products for domestic consumption, processes and distributes oil products.
The company was established by merging the Vietnam National Oil and Gas Group’s (PetroVietnam’s) subsidiaries – the PetroVietnam Trading Corporation (Petechim) and the Oil Processing and Distribution Company (PDC).
