PV Oil opens fuel unit in Laos

PetroVietnam Oil Corporation (PV Oil) announced that it has have opened a fuel unit which will trade petroleum, oil products, lubricants, wood, coffee and tea. The new fuel unit is part of the company’s plan to expand the company’s international base. Another fuel unit is planned for Singapore. PV Oil currently has a distribution system of 72 retailers in Laos. Also in the works is partnering with a Cambodian company to build a US$50 million gasoline and fuel refinery, with a 200,000 ton capacity in Cambodia. According to the company, PV Oil has set a goal to supply 50% of Vietnam’s oil and gasoline market by 2015. (April 4, 2011)