PetroMekong eyes 30% market share in Cambodia

Mekong Oil and Gas Joint Venture Co.(PetroMekong), a joint venture between the state-owned Vietnam Oil and Gas Group (PetroVietnam) and seven Mekong Delta provinces is targeting between 25 and 30% of Cambodia’s petroleum market share through 2025. PetroMekong will also extend its export market to Laos, the Nhan Dan newspaper reported. The company plans to ensure a stable distribution of products coming from Vietnam’s first oil refinery in Dung Quat, distributing one million tons of petroleum products this year, three million tons through 2015 and four million tons through 2025. Petromekong is a joint venture between PetroVietnam and Can Tho, Soc Trang, Bac Lieu, Ca Mau, An Giang, Vinh Long and Tra Vinh provinces, which was set up in 1998. (January 11, 2010)