HANOI -(Dow Jones)- State-run Vietnam National Petroleum Corp., or Petrolimex, said Tuesday that it is seeking to expand its oil-product sales in Cambodia, where it already holds a 50% stake in the country's retail oil product market.
Petrolimex has opened a representative office in Cambodia, paving the way for the company to open a wholly owned unit there, it said in a statement.
The Vietnamese company's revenue from oil product exports to Cambodia total $700 million a year, it said.
Last November, Petrolimex opened a wholly owned company in Singapore, its first overseas unit.
-By Vu Trong Khanh, Dow Jones Newswires
Petrolimex has opened a representative office in Cambodia, paving the way for the company to open a wholly owned unit there, it said in a statement.
The Vietnamese company's revenue from oil product exports to Cambodia total $700 million a year, it said.
Last November, Petrolimex opened a wholly owned company in Singapore, its first overseas unit.
-By Vu Trong Khanh, Dow Jones Newswires
7 comments:
It is interesting to know that Vietnam is not even an oil producing country and yet Vietnam is able to sale oil to Cambodia at $700 million a year!
This is a real shame for Cambodia under AH HUN SEN Vietcong puppet leadership! Cambodian people know only how to consume and not producing or even selling! What have become of Cambodia!!!!!!!!
AH HUN SEN micromanagement of Cambodia is not working and now the Vietcong master is taking over the management! For over 30 years, AH HUN SEN has the chance to learn on the job....it seems that he didn't learn anything after all!
What the Yuon wants to do and have in srok Khmer is domination. The children of the Khmer Angkor builders are at the present smart enough to handle all businesses by themselves. Let this well known bad foreigner have no lead in any business. Kick them out.
Yeah, Viet companies will be kicking out all previous businesses from their unique strategies used in military. When they own everything, they have better chance to influence policy making.
Oil distributor companies are killing Cambodian economy, they don't pay tax, they sale fuel as expensive as in other countries of the world, they really steal 35% of Cambodia tax money. Hun Sen wife does it and Hun Sen knows it. That is a corruption.
Anonymous said...Khmer people must learn to make businesses by themselves.No one was born without learning,if the Cambodia government support young generations.The Cambodian economy will boom;all we need are to hire the foreign experts to lead us how to run businesses,not Vietnamese,Thais,or some Asian countries.Specially,we need these people from Australia,Europe,South America,or Japan.Doing and running these businesses, we must change the government leadership.
Anonymous said...Corrected: North America,not South America.
Great site! Oil distributor companies are killing Cambodian economy, they don't pay tax, they sale fuel as expensive as in other countries of the world, they really steal 35% of Cambodia tax money.
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