Major oil and gas company is about to sell aviation fuel and wants to build an underground pipeline to bring the fuel to Long Thanh airport.

Many investors are interested in the underwater pipeline project to transport aviation fuel to Long Thanh Airport, but the investor has not yet finalized the contractor.

Engineers transport fuel oil for PVOIL in Nha Be district (Ho Chi Minh City) through pipelines - Photo: NGOC HIEN

At the annual shareholders' meeting held on April 25th, Mr. Nguyen Dang Trinh, General Director of Vietnam Oil Corporation (PVOIL), stated that many investors are interested in the underground pipeline project to supply fuel to Long Thanh Airport from the upstream storage facility.

According to Mr. Trinh, the government has assigned Dong Nai province to select the investor, and PVOIL is interested in this project, but has not yet been officially selected.

Mr. Trinh stated that Long Thanh Airport only has a fuel supply option via pipelines, not tanker trucks like other airports, so all aviation fuel will be transported from the source depot to the airport through this underground pipeline system.

Mr. Trinh stated that if selected as the project's investor, PVOIL would have the right to collect fees through the pipeline when aviation fuel is transported through this system.

"Based on calculations and the needs of Long Thanh Airport during the first five years and subsequent expansion phases, this project is considered to be highly effective if we become the investor," Mr. Trinh said.

During a meeting with the Dong Nai Provincial People's Committee late last year, this company proposed building an underground pipeline approximately 22km long to supply aviation fuel. Besides PVOIL, the Vietnam National Petroleum Group ( Petrolimex ) and the Vietnam Aviation Fuel Company Limited (Skypec) also proposed undertaking underground fuel supply pipeline projects for Long Thanh Airport.

Regarding the aviation fuel business, PVOIL stated that it has been granted a license by the Ministry of Industry and Trade as a primary distributor of Jet A1 aviation fuel and is currently proceeding with related work to launch the business from the fourth quarter of 2025.

PVOIL aims for revenue of 97,500 billion VND.

For its business plan, PVOIL aims for consolidated revenue of VND 97,500 billion and pre-tax profit of VND 780 billion this year. This plan is based on a crude oil price of USD 70/barrel and an exchange rate of VND/USD 25,000.

Regarding non-fuel business activities at PVOIL's gas stations in the past period, such as electric vehicle charging stations, convenience stores, cafes, and rest stops for long-distance trucks, PVOIL stated that they have all yielded positive initial results, helping to increase the efficiency of the stations.

Previously, the company achieved consolidated revenue of over 125,000 billion VND, completing 151% of the 2024 plan, and consolidated pre-tax profit of 633 billion VND.

Mr. Cao Hoai Duong, Chairman of the Board of Directors of PVOIL, said that in addition to direct profits from the petroleum industry, PVOIL expects greater synergy between non-petroleum services and traditional business, helping to attract customers and improve operational efficiency.

Read more Back to the Home page

NGOC HIEN

Source: https://tuoitre.vn/ong-lon-xang-dau-sap-ban-nhien-lieu-bay-muon-lam-ong-ngam-dan-nhien-lieu-vao-san-bay-long-thanh-202504252038504.htm