On the morning of March 28, 2025, Vietnam National Petroleum Group (Petrolimex, stock code PLX) held an extraordinary general meeting of shareholders, officially approving the merger of Petrolimex Petroleum Services Corporation (PTC) into the Vietnam Petroleum Group with a 100% approval rate. This activity is part of the restructuring process for the period 2021-2025. PTC was established in 2017 to optimize petroleum transport operations; however, after nearly 8 years, the model showed many limitations, failing to meet centralized management and technology application requirements. The merger will facilitate the implementation of the DOC model to optimize logistics and reduce costs. Petrolimex is committed to restructuring its management apparatus towards efficiency, enhancing competitive capabilities for its transport companies within the ecosystem. ENEOS, Petrolimex’s strategic partner, expressed full support for this decision, emphasizing potential cost reductions and enhanced operational effectiveness.
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