What did the Chairman of Petrolimex say when meeting the leader of the world's largest oil corporation?

Mr. Pham Van Thanh - Chairman of Petrolimex suggested that Aramco study the possibility of investment cooperation in the field of oil refining and petrochemicals.

(PLVN) - Leaders of the Vietnam National Petroleum Group (Petrolimex) and representatives of the Saudi Aramco Oil Corporation (Aramco - of Saudi Arabia) recently had a meeting and worked in Hanoi.

Leading the Aramco delegation to Hanoi this time is Vice President of Retail Ziyad Juraifani, along with Director of International Retail Nader Douhan, Director of International Retail Business Development Lucas Rubinacci and Head of International Retail Business Development Ross Hood.

Welcoming the Aramco delegation, Mr. Pham Van Thanh - Chairman of Petrolimex Board of Directors expressed his joy that the Aramco delegation visited and worked with Petrolimex.

Here, Petrolimex leaders shared about Petrolimex's position and experience in downstream petroleum distribution, with distinct advantages from a nationwide retail system, with 5,500 petroleum stations, accounting for nearly 50% of the domestic petroleum distribution market share. On that basis, the Chairman of Petrolimex proposed that Aramco study the possibility of investment cooperation in the field of petrochemical refining; production and distribution of petrochemical products such as: liquefied petroleum gas, gas, lubricants; insurance, etc.

Aramco's Vice President of Retail - Mr. Ziyad Juraifani expressed his belief that, with the strengths of Aramco and Petrolimex, the strategic and methodical cooperation between the two corporations in the future will create huge competitive advantages in the Vietnamese market.

Representatives of the two groups took a souvenir photo at the Petrolimex Office in Hanoi.

Aramco is known as the world's largest oil company, with proven crude oil reserves of more than 260 billion barrels. At times, it held the position of the company with the largest market capitalization in the world. In 2022, Aramco achieved a record profit of more than $161 billion, up 46% from $110 billion in 2021.

From the figures showing the potential of a world-leading corporation in the energy sector as well as the ability and reputation of a Vietnamese enterprise, Petrolimex leaders suggested that Aramco could choose Van Phong bonded warehouse as a gateway when promoting petroleum trading activities in Vietnam.

In addition, Petrolimex is willing to cooperate with the Saudi Arabian group in the process of creating petroleum sources.

Previously - in October 2023, at the ASEAN - Gulf Cooperation Council (GCC) Summit, Aramco expressed its desire to invest in Vietnam, first of all sending a technical delegation to Vietnam to survey and learn about the market.

Although Aramco has not yet had any direct investment activities in Vietnam, it has provided Vietnamese businesses with many products related to crude oil.

Source: https://baophapluat.vn/chu-tich-petrolimex-noi-gi-khi-gap-lanh-dao-tap-doan-dau-mo-lon-nhat-the-gioi-post526386.html