PETRO VIETNAM LPG JOINT STOCK COMPANY (Vietnamese: CÔNG TY CỔ PHẦN KINH DOANH LPG VIỆT NAM), also known by its trading name PVGAS LPG, is a publicly listed enterprise specializing in the wholesale of solid, liquid, and gaseous fuels, particularly liquefied petroleum gas (LPG). With over 17 years of operation since its incorporation on June 25, 2007, the company stands as a core member of Vietnam’s downstream energy sector.

Headquartered on the 11th Floor of the Petroleum Institute Building, No. 167 Trung Kinh Street, Cau Giay District, Hanoi, the company operates with Business ID and TIN 0102311149. PVGAS LPG is currently listed on the Hanoi Stock Exchange (HNX) under the ticker PVG and maintains a workforce of 458 employees.

Financial Resilience and Profit Rebound

In 2024, PVGAS LPG recorded a revenue of USD 213.48 million, marking an 18.59% increase from the previous year. The company also posted a noteworthy rebound in net profit, earning USD 525,485—a 1077.36% surge after a dramatic slump in 2023. These results point to a recovery in gas distribution volume, improved margins, or operational cost controls after a challenging prior year.

However, the company’s total assets decreased by 8.03%, down to USD 68 million, possibly due to asset reallocation or inventory reductions. Owner’s equity edged up slightly by 2.65%, reaching USD 20.38 million, indicating modest but stable capital reinforcement. PVGAS LPG also maintained a working capital balance of USD 6.19 million, ensuring adequate short-term liquidity for procurement and supply operations.

Shareholding and Strategic Alignment

The company’s major shareholder is PETROVIETNAM GAS JOINT STOCK CORPORATION, which holds a 51.31% stake, linking PVGAS LPG directly to the national oil and gas conglomerate. This affiliation gives the company a strategic advantage in supply access, brand credibility, and participation in Vietnam’s expanding energy infrastructure.

Mr. TRAN TRONG HUU serves as Chairman, while Mr. DOAN TRUC LAM acts as Director, supported by Deputy Director Mr. TA QUOC ANH. The leadership reflects deep experience in state-linked energy management, and the public ownership structure brings additional transparency and oversight.

Business Model and Sector Risk

PVGAS LPG is engaged primarily in the distribution of LPG and gas-related equipment, positioning it as an essential player in household, commercial, and industrial energy supply chains. Its business model depends heavily on commodity price cycles, import logistics, and domestic demand trends, which introduces revenue volatility.

Given these sectoral dynamics, comprehensive Risk Management Services are critical for any stakeholders involved in procurement contracts, credit extensions, or investment analysis. A detailed Vietnam Litigation Report can provide clarity on the company’s legal standing, regulatory compliance, and dispute history—important factors when working with a listed entity in a highly regulated field.

Furthermore, because PVGAS LPG is part of the national energy supply framework, Business Verification Servicesensure credibility, especially when evaluating Private Financial Data, operational disclosures, or third-party engagements.

Strategic Outlook

The financial turnaround in 2024 reflects PVGAS LPG’s resilience and adaptive capacity amid external shocks, making it a stable yet modestly growing investment in Vietnam’s energy distribution sector. Looking ahead, the company must continue to:

• Optimize inventory and logistics costs,

• Adapt to renewable energy trends, and

• Navigate regulatory reforms in Vietnam’s evolving fuel distribution system.

In an environment where energy security and sustainable transition are top national priorities, PVGAS LPG remains a relevant and strategically connected enterprise. However, regular credit monitoring, debt servicing capacity analysis, and supply contract reviews are recommended for any entity with financial or operational exposure to the company.