On September 17, 2024, the leaders of Vietnam National Petroleum Group ( Petrolimex / Group) welcomed and had a working session with the delegation of Saudi Aramco Oil Group (Aramco) at the Hanoi Transaction Office.
The Aramco delegation was led by Vice President of Retail Ziyad Juraifani, along with Head of International Retail Nader Douhan; Head of International Retail Business Development Lucas Rubinacci and Head of International Retail Business Development Ross Hood.
Petrolimex Chairman of the Board of Directors Pham Van Thanh and Petrolimex Board Member and General Director Dao Nam Hai hosted the reception and worked with the Aramco delegation. Also welcoming and working were Petrolimex Board Member Tran Tuan Linh; Petrolimex Deputy General Director Nguyen Xuan Hung; Petrolimex Deputy General Director Nguyen Ngoc Tu; Leaders of the Departments: Investment Strategy, General, Retail Business, Office and Leaders of Van Phong Bonded Petroleum Warehouse (VPT).
Aramco is the world's largest oil and gas company and has at times been the world's most valuable company. In 2022, Aramco achieved a record profit of more than $161 billion, up 46% from $110 billion in 2021.
At the meeting, Aramco expressed its desire to explore the market and seize opportunities to invest in Vietnam, especially in the construction of oil refineries. Currently, Aramco supplies crude oil to businesses in Vietnam, but has not yet invested directly.
Speaking at the meeting, Chairman of Petrolimex Board of Directors Pham Van Thanh expressed his honor and joy to welcome the Aramco delegation to visit and work with the Group. The Group's leaders shared about Petrolimex's leading position in the downstream petroleum distribution market with the largest, most modern and synchronous technical infrastructure system among the leading petroleum trading enterprises in Vietnam. With the distinct advantage of a nationwide retail system of up to 5,500 petroleum stations (including 2,800 CHXDs owned and directly managed), accounting for nearly 50% of the domestic petroleum distribution market share, Petrolimex leaders proposed that Aramco study the possibility of investment cooperation in the field of petrochemical refining; production and distribution of petrochemical products such as: liquefied petroleum gas, gas, lubricants; insurance, etc.
Petrolimex General Director Dao Nam Hai emphasized that the Group is the only downstream petroleum business unit in Vietnam that owns a bonded warehouse, Van Phong (VPT), with quality infrastructure and a prime location. Petrolimex leaders suggested that Aramco could choose Van Phong bonded warehouse as a gateway when promoting petroleum trading activities in Vietnam. Petrolimex is ready to cooperate with Aramco in creating petroleum sources.
Aramco's Vice President of Retail Ziyad Juraifani thanked Petrolimex for the warm welcome. Mr. Juraifani expressed his belief that, with the strengths of Aramco and Petrolimex, the strategic and methodical cooperation between the two groups in the future will create great competitive advantages in the Vietnamese market.
Some photos at the meeting:
Source: https://www.petrolimex.com.vn/nd/tin-chuyen-nganh/tap-doan-dau-khi-lon-nhat-the-gioi-tham-lam-viec-tai-petrolimex.html
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