Petrolimex asked to accelerate divestment

Tuesday, 2018-09-25 16:44:02
 Font Size:     |        Print

Vice Chairman of the Government Office, Nguyen Cao Luc speaking at the working session (photo: VGP)
 Font Size:     |  

NDO - The Vietnam National Petroleum Group (Petrolimex) was requested to strictly follow the Prime Minister's instructions on its divestment and address the infringement of the Potrolimex brand.

Vice Chairman of the Government Office, Nguyen Cao Luc, made the request while leading the Prime Minister's Working Group to work with the gas station operator in Hanoi, on September 25.

The Vice Chairman of the Government Office said that the working session aimed to inspect Petrolimex's implementation of the tasks assigned to the company by the Government. The group has been assigned with nine tasks since 2017, with six completed and three unfinished.

In addition, the meeting intended to assess the production and business activities of Petrolimex, while removing obstacles for the group, Luc said.

Through the PM Working Group, PM Nguyen Xuan Phuc asked Petrolimex to make a number of issues clear, including promoting the consumption of E5 bio-fuel, the inadequacies in the consumption of domestic oil refinery products and the delay in divestment.

Chairman of Petrolimex Board of Management, Pham Van Thanh, said that Petrolimex has completed the establishment of six corporations operating effectively in the form of parent company - subsidiary company and joint stock companies. In the future the group will accelerate the restructuring of PGBank and the divestment from areas in which Petrolimex does not need to hold dominant shares.

Thanh noted that the group has asked the Ministry of Industry and Trade to delay the divestment until 2019-2020 instead of 2018 as planned.