MEKONG PETROLEUM JOINT STOCK COMPANY

MEKONG PETROLEUM JOINT STOCK COMPANY (Công Ty CP Dầu Khí Mê Kông), also known as PV OIL MEKONG, stands as a vital component of Vietnam’s petroleum retail landscape. Established on January 15, 2009, and headquartered in Can Tho City, the company has grown significantly over its 16-year journey, with strong financial backing and nationwide operational coverage.

Business Identity and Ownership

Operating under Business ID: 1800277683 and TIN: 1800277683, MEKONG PETROLEUM is a privately held joint stock company. With a charter and paid-up capital of USD 21.1 million, the company benefits from robust support from its majority shareholder — PetroVietnam Oil Corporation, which holds 89.37% ownership. Other shareholders include local entities such as SOC TRANG RICE, Minh Hai Tourist Service, Bac Lieu Tourist, and An Giang Port JSC.

Core Operations and Locations

MEKONG PETROLEUM primarily engages in the retail sale of automotive fuel in specialized stores. Its head office is located at 60-62, 3/2 Street, Xuan Khanh Ward, Ninh Kieu District, Can Tho City, with branches in Vinh Long, Bac Lieu, and Soc Trang provinces. The company employs approximately 400 staff and plays a pivotal role in fuel distribution across southern Vietnam.

Financial Performance in 2023

The year 2023 was marked by both growth and challenges for MEKONG PETROLEUM JOINT STOCK COMPANY:

• Total Assets rose sharply by 38.94%, reaching USD 33.54 million.

• Sales increased by 9.72%, totaling USD 280.29 million.

• Despite the top-line growth, profit plummeted by 85.29% to USD 73,847, reflecting potential margin pressure or increased operational costs.

• Owner’s equity remained stable at USD 15.28 million, while net worth reached USD 7.38 million.

• Working capital turned negative (-USD 391,611), which may indicate liquidity constraints.

Key Management

The leadership team of MEKONG PETROLEUM includes:

• Mr. Tran Cao Phong – Chairman

• Mr. Luu Van Nguyen – General Director

• Mr. Dam Quoc Hoan – Deputy General Director

All top executives are Vietnamese nationals with experience in petroleum distribution and corporate governance.

Strategic Role in Vietnam's Energy Sector

As a regional affiliate of PetroVietnam Oil Corporation, PV OIL MEKONG serves as a strategic arm for fuel retail distribution in the Mekong Delta. Its continued expansion in physical outlets and distribution capacity strengthens Vietnam’s energy accessibility, particularly in southern provinces where economic activity is intensifying.

Challenges and Outlook

While MEKONG PETROLEUM shows solid asset growth and revenue performance, its declining profitability and negative working capital require close financial management. Operational efficiencies, cost control, and perhaps digital transformation in retail operations may be necessary to restore margins and improve bottom-line results.