PETROLIMEX GIA LAI CO.;LTD

PETROLIMEX GIA LAI CO., LTD: A Steady Force in Vietnam’s Petroleum Distribution Landscape

PETROLIMEX GIA LAI CO., LTD, officially known in Vietnamese as CÔNG TY TNHH MỘT THÀNH VIÊN XĂNG DẦU BẮC TÂY NGUYÊN, is a key regional subsidiary under the Vietnam National Petroleum Group. Established on June 1, 1994, the company is headquartered at 274 Le Duan Street, Tra Ba Ward, Pleiku City, in the Central Highlands province of Gia Lai. It operates as a one-member limited liability company, wholly owned by its parent organization.

The firm’s core business revolves around the wholesale distribution of solid, liquid, and gaseous fuels, including petroleum and petrochemical products. In addition to its primary fuel trading activities, PETROLIMEX GIA LAI also engages in a variety of registered operations such as freight transport, construction material wholesale, real estate leasing, and insurance agency services. This diversification helps stabilize its operations in the fluctuating energy market.

At the end of 2023, the company reported total assets of USD 18.73 million, representing steady growth from previous years. Despite a moderate decline in sales—falling from USD 230 million in 2022 to USD 195.86 million in 2023, or a 14.87% drop—PETROLIMEX GIA LAI remained profitable. Its net income reached approximately USD 210,416, marking a 36.6% increase over the prior year. This profit recovery follows a dip in 2022 and reflects disciplined cost management and effective operational control.

The company’s equity rose sharply in 2023, increasing by more than 70% year-on-year to reach USD 8.31 million, a notable improvement that reflects reinvestment in core infrastructure and possibly stronger capital efficiency. However, a point of concern lies in its negative working capital of approximately USD -5.95 million, indicating short-term financial pressures that may require attention from management and stakeholders.

PETROLIMEX GIA LAI is led by Mr. BUI NGHIA THAO, who serves as both Chairman and Director, supported by Deputy Directors Mr. NGUYEN VAN LONG and Mr. VO DINH TIEN. With a workforce of around 350 employees, the company continues to play a crucial role in supplying energy to Gia Lai Province and neighboring areas, including through its branch in Kon Tum.

Wholly owned by the Vietnam National Petroleum Group (Petrolimex), PETROLIMEX GIA LAI benefits from the scale, reputation, and logistical strength of one of Vietnam’s most established state-owned corporations. This ownership structure reinforces market trust and regulatory compliance, though it also comes with performance expectations typical of large-scale state-affiliated enterprises.

For businesses, investors, and partners considering entry into Vietnam’s fuel distribution sector, PETROLIMEX GIA LAI stands as a dependable, long-standing enterprise. However, it also exemplifies the importance of continuous financial monitoring, risk management, and company report reviews, particularly in an energy market subject to global price volatility and regional competition.

VANGUARD BUSINESS INFORMATION LLC (VBI) provides accurate and up-to-date analysis for enterprises like PETROLIMEX GIA LAI, helping clients navigate the complexities of Vietnam’s energy sector with confidence.