Vietnam’s PV OIL holds 20% of petroleum retail in Laos
Chủ Nhật, 30/04/2017, 19:30
Vietnam’s PetroVietnam Oil Corporation (PV OIL), is running profitably in Laos, earning an average revenue of over US$100 million and contributing over US$20 million to the host country's budget a year.
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According to Nguyen Kim Son, Director of PV OIL Laos, the company made its presence in 16 out of Laos’s 18 provinces that allowed it to account for 20 percent of petroleum retail share and become the second largest petroleum retailer in Laos.
From an initial investment of US$4 million, the company gained a profit of US$12 million a year after seven years of operation. It is providing jobs for around 2,000 Lao people at its petrol stations nationwide.PV OIL Laos officially operated from December 1, 2010, on the foundation of Laos’s retail unit of Royal Dutch Shell.
Its initial 70 petrol stations have so far been increased to 104 across Laos.
