Comeco and Total Vietnam sign agreement

Materials-Petroleum Joint Stock Company (Material-Petroleum JSC) also referred to as Comeco, a Vietnam-based petroleum company, and Total Vietnam signed an agreement to increase cooperation in the trade and distribution of petroleum products in Vietnam, particularly in the southern economic hub of Ho Chi Minh City. The deal stipulates that Total will refresh the image and enhance professionalism of 14 stations belonging to Comeco, which are part of the company’s network in HCM City; and for its part, Comeco will boost the sales of Total’s lubricants at these 14 stations. Total is one of the leading oil and gas groups in the world, with a network of 17,000 petroleum stations worldwide. Total Vietnam currently holds 12% of the lubricant market share in the country. (February 13, 2012)