HOCHIMINH CITY PETROLEUM COMPANY LIMITED

HOCHIMINH CITY PETROLEUM COMPANY LIMITED (CÔNG TY TNHH MỘT THÀNH VIÊN DẦU KHÍ THÀNH PHỐ HỒ CHÍ MINH) has been a cornerstone of Vietnam’s energy sector for nearly two decades. As a wholly state-owned enterprise, the company plays a critical role in producing, processing, and distributing petroleum and gas products across southern Vietnam. Known commercially as SAIGON PETRO CO., LTD, it continues to balance government ownership with market-oriented operations.

Legal Status and Corporate Structure

Established on May 26, 2005, HOCHIMINH CITY PETROLEUM COMPANY LIMITED is officially registered under Business ID 0300507707, issued by the Ho Chi Minh City Department of Planning and Investment. The company operates as a one-member limited liability company with 100% ownership held by the Ho Chi Minh City Committee of the Party. Its head office is located at No. 27, Nguyen Thong Street, Vo Thi Sau Ward, District 3, Ho Chi Minh City, Vietnam, with key branches in Can Tho, Dong Nai, and Ba Ria–Vung Tau.

With a charter and paid-up capital of USD 41.08 million, SAIGON PETRO functions under a fully state-owned model while engaging in broad business activities ranging from fuel manufacturing and distribution to technical consultancy and warehousing.

Leadership and Management

At the helm of the company is Chairman Mr. Nguyen Duc Teo, with Mr. Pham Van Thoai serving as General Director. Together, they oversee a wide range of business lines, including not only petroleum refining but also logistics, storage, and retail fuel sales. The company's governance reflects a strong blend of public-sector stability and commercial strategy, enabling it to compete in a rapidly evolving energy market.

Financial Performance and Business Highlights

In 2023, HOCHIMINH CITY PETROLEUM COMPANY LIMITED demonstrated resilience amid shifting energy prices and fluctuating demand. The company’s total assets surged to USD 188.03 million, representing a 29.67% increase from the prior year. While sales declined slightly by 15.38% to just under USD 400 million, this contraction followed a significant surge in revenue during 2022. Notably, profit rebounded sharply to USD 6.66 million, a 74.3% increase year-over-year, suggesting a recovery in margins and better operational efficiency.

The company’s equity rose to USD 49.58 million, supported by a healthy working capital position of USD 26.69 million, allowing it to fund ongoing operations and navigate market volatility. These figures position the company as a financially stable player within Vietnam’s strategic energy sector.

Expanding Operations and Strategic Role

While its core focus remains on refined petroleum production and distribution, HOCHIMINH CITY PETROLEUM COMPANY LIMITED also engages in a variety of registered activities such as real estate trading, fuel retail, freight transport, waterway logistics, and the manufacture of chemicals and gases. This level of diversification provides risk buffering and allows the company to capture value across the supply chain.

As Vietnam prioritizes energy security, logistical modernization, and sustainability, HOCHIMINH CITY PETROLEUM COMPANY LIMITED is well-placed to support public-sector goals while maintaining commercial viability. However, like all energy firms, it remains exposed to market risks such as commodity price swings, geopolitical developments, and environmental regulations.

Conclusion and Risk Perspective

With its solid financial foundation, experienced leadership, and clear public mandate, HOCHIMINH CITY PETROLEUM COMPANY LIMITED remains a vital pillar in Vietnam’s state-owned enterprise landscape. As the country transitions toward cleaner energy and more efficient infrastructure, SAIGON PETRO’s adaptability will be tested, particularly in how it integrates modernization and sustainability into its business model.

For those seeking to partner with, invest in, or assess the creditworthiness of entities like SAIGON PETRO, comprehensive due diligence is key. [Vanguard Business Information LLC (VBI)](https://vnb

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HOCHIMINH CITY PETROLEUM COMPANY LIMITED is not only a legacy brand in Vietnam’s energy sector but also a company entering a new phase of transformation. Its financial recovery in 2023, strategic location in southern Vietnam, and strong state backing make it a name to watch—especially for stakeholders navigating the intersection of public enterprise and competitive markets.