PetroVietnam and Petrolimex signed the Memorandum of cooperation: For the stability of oil and gas domestic market

On the afternoon of 19^th September 2018, there was the signing ceremony of Memorandum of cooperation between PetroVietnam and Petrolimex.

Attending the ceremony, there were Mr. Anh H. Nguyen - Chairman of the State Capital Management Committee at the enterprises; Mr. Quang H. Nguyen - Deputy Chairman of the Finance Committee of the National Assembly; Mr. Hai T. Do - Deputy Minister of Industry and Trade and leaders of the Central Economic Commission and other representatives from Ministry of Finance and Ministry of Planning and Investment.

Mr. Thanh S. Tran – Chairman of PetroVietnam and Mr. Thanh V. Pham – Chairman of Petrolimex signed the Memorandum of cooperation

On behalf of PetroVietnam, there was Mr. Thanh S. Tran - Chairman of PetroVietnam; Mr. Son V.T Nguyen – General Director of PetroVietnam as well as other leaders.

On behalf of Petrolimex, there was Mr. Thanh V. Pham – Chairman and Mr. Thang D. Pham – General Director as well as other leaders.

Under the cooperation agreement, Petrolimex and PetroVietnam will joint to promote investment and business cooperation, support each other both in terms of material facilities and business expansion. Both sides shall exploit the strengths of each party, the potential of domestic and foreign markets, the traditional business of each Party and other areas of mutual interest.

The two parties may jointly contribute capital, purchase shares of oil and gas projects, warehouses and pipeline projects, prioritize the selection and long-term use of each other's core products. At the same time, the parties shall facilitate the usage of the warehouse system, port, logistic services....

The two parties commits to use products and services of each other; facilitate the mutual development of production and business activities with a view to maximizing the potential ability, the efficiency, strengthening the position and enhancing the competitiveness of each party, ensuring the interests of each party and in accordance with the provisions of Vietnamese law in the process of cooperation.

Mr. Thanh S. Tran – Chairman of PetroVietnam spoke at the ceremony

Mr. Thanh S. Tran stated that this was an important event which marking the total cooperation between two groups.

Mr.Thanh V. Pham – Chairman of Petrolimex addressed at the signing ceremony

Mr Thanh said the signing ceremony would bring the cooperation between PetroVietnam and Petrolimex to a new level that brings great benefits to the national economy and stabilize the petroleum domestic market.

Deputy Minister of Industry and Trade congratulated the cooperation between two groups

Hien Anh