Petrolimex launches unit in Singapore

State-owned Vietnam National Petroleum Corp. (Petrolimex), the country’s biggest petroleum distributor, launched a new unit in Singapore on November 16. The newly established Petrolimex Singapore Pte. Ltd will specialize in trading petroleum products, conducting market research and seeking partners to ensure a stable supply for Petrolimex in Vietnam, the corporation said on its website. Singapore is one of the world’s largest petroleum centers. Petrolimex currently holds a 60% petroleum market share in Vietnam. (November 17, 2009)