PetroVietnam merges trading, distribution units 

Vietnam Oil & Gas Group, Southeast Asia’s third-biggest fuel producer, has merged its trading unit and processing and distribution subsidiary to increase its competitiveness.

PV Oil, formed by merging PetroVietnam Trading Co. and Oil Processing and Distribution Co., would import, export, process and distribute crude oil and other oil products for the domestic and world markets, the company said in a statement Thursday.

PV Oil, based in Ho Chi Minh City, will supply the Dung Quat Oil Refinery with 17 million tons of crude oil and distribute five million tons of fuel in 2009.

Its revenue, from as many as 30 member companies, will be more than VND45 trillion (US$2.7 billion), including a VND4 trillion ($240 million contribution to the state budget this year, according to the statement.

Thanhnien

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