HONG DUC PETROL CO., LTD: A Regional Leader in Petroleum Retail in Vietnam’s Mekong Delta

HONG DUC PETROL COMPANY LIMITED (Vietnamese: CÔNG TY TNHH XĂNG DẦU HỒNG ĐỨC, also known as HODUCO.,LTD) is a privately held petroleum trading company based in southern Vietnam. Registered under tax code 1200541784, the company operates its headquarters at No. 206, Provincial Road 864, Tan Thuan B Hamlet, Binh Duc Commune, Chau Thanh District, Tien Giang Province.

Since its founding on August 26, 2004, HONG DUC PETROL has grown into a key distributor of automotive fuel and petroleum products across several Mekong Delta provinces, with a growing footprint in Tien Giang, Long An, Dong Thap, and Ben Tre.

Extensive Fuel Distribution Network in Southern Vietnam

The company’s core business is the retail sale of automotive fuel through specialized outlets, supporting private vehicles, freight transporters, and rural fuel needs across the Delta. In addition to fuel sales, HODUCO is also active in road and water freight logistics, refined petroleum production, real estate, and machinery repair.

With multiple operating branches and a strategically placed logistics network along key national roads (National Road 30, 60, and 62), HONG DUC PETROL ensures fast, efficient fuel supply in one of Vietnam’s most economically dynamic regions.

Financial Performance and Growth Trends

In 2023, the company reported USD 194.24 million in revenue, marking a 16.14% decline from 2022. This drop followed a spike in 2022 when sales reached over USD 231 million. Despite the lower revenue, the company maintained a net profit of USD 1.24 million in 2023, although this figure was 87.43% lower than the previous year’s record high.

Total assets stood at USD 74.41 million, reflecting a slight contraction of 9.55% year-over-year. However, owner’s equity increased to USD 20.12 million, up by 5.64%, suggesting that the company is continuing to reinvest retained earnings and preserve financial health. The company reported negative working capital of USD -1.06 million, signaling short-term liabilities exceeding current assets, which may require monitoring.

Privately Owned and Managed

HONG DUC PETROL is co-owned by two individuals: Mr. DINH VAN HUU (Chairman), who holds 52% ownership, and Ms. LE THI QUYEN (Director), who holds the remaining 48%. The company operates with a staff of 109 employees, combining lean operational management with an expansive retail and logistics infrastructure.

Broad Business Scope

Beyond fuel retail, HODUCO’s registered activities include:

• Sea and coastal freight transport

• Repair of machinery and equipment

• Soft drink and mineral water production

• Real estate management

• Motorcycle maintenance and repair

• Shipbuilding and floating structure manufacturing

This diversified business model supports resilience amid fuel price volatility and regional economic fluctuations.

Expert Insight from VBI

VANGUARD BUSINESS INFORMATION LLC (VBI) recognizes HONG DUC PETROL CO., LTD as a prominent player in the Mekong Delta’s energy distribution sector. For suppliers, contractors, or investors looking to engage with fuel retailers in Vietnam, VBI offers verified company reports, financial risk assessments, and business intelligence services to support reliable commercial decision-making.