PETROLIMEX QUANGNINH CO.,LTD

Introduction

PETROLIMEX QUANGNINH CO., LTD (CÔNG TY XĂNG DẦU B12) is a leading enterprise in Vietnam’s petroleum distribution sector, specializing in the wholesale of solid, liquid, and gaseous fuels. Established on July 9, 2010, the company operates as a one-member limited liability company under Business ID 5700101690. It is fully owned by the Vietnam National Petroleum Group (Petrolimex), reinforcing its strong market position in the country’s energy sector. The company is headquartered in Area I, Bai Chay Ward, Ha Long City, Quang Ninh Province, Vietnam, with a workforce of 1,611 employees.

Financial Overview

In 2023, PETROLIMEX QUANGNINH CO., LTD reported total assets of USD 54.55 million, marking a 24.7% decrease from the previous year. Total sales amounted to USD 576.8 million, reflecting a 27.24% decline, while profit rebounded strongly by 157.36%, reaching USD 3.95 million. The company’s equity stood at USD 23.18 million, showing a 37.53% reduction, suggesting restructuring efforts to maintain financial stability.

Leadership and Governance

The company is led by Director Le Hong Son and Chairperson Trinh Quang Vinh, both of whom bring vast experience in petroleum trade and supply chain management. Their leadership ensures that PETROLIMEX QUANGNINH CO., LTD maintains high operational efficiency and adheres to strict safety and environmental standards in its fuel distribution business.

Core Business Operations

PETROLIMEX QUANGNINH CO., LTD primarily engages in the wholesale of petroleum and other fuel productsbut has diversified its activities to include:

• Transport via pipelines, sea, and coastal freight water transport
• Warehousing and storage of fuel and industrial materials
• Retail sales of automotive fuel, computers, software, and telecommunications equipment
• Repair and maintenance of machinery, vehicles, and industrial equipment
• Hazardous waste collection and environmental remediation services

Market Position and Growth Potential

As part of Vietnam’s largest petroleum distribution network, PETROLIMEX QUANGNINH CO., LTD plays a crucial role in ensuring fuel supply stability across the country. With continued investments in logistics infrastructure, environmental sustainability, and fuel quality control, the company remains well-positioned for long-term growth despite recent financial fluctuations.

Industry Insights by VBI

VANGUARD BUSINESS INFORMATION LLC (VBI), a leader in business intelligence, financial analysis, and risk assessment, recognizes PETROLIMEX QUANGNINH CO., LTD as a strategic player in Vietnam’s fuel sector. The company’s strong backing from Petrolimex, diverse service portfolio, and robust distribution network make it a critical contributor to Vietnam’s energy market.

Conclusion

Despite facing financial volatility in 2023, PETROLIMEX QUANGNINH CO., LTD remains a trusted petroleum supplier, ensuring fuel security and efficient logistics for both industrial and commercial clients. With strong leadership, continuous expansion, and innovative fuel distribution strategies, the company is well-positioned for future success in Vietnam’s growing energy sector.