Petrolimex opens local jet fuel services 

Petrolimex Jet Fuel has begun selling fuel to airplanes in Ho Chi Minh City, breaking state-owned carrier Vietnam Airlines’ monopoly in the field.

The company is a joint venture between Vietnam’s top oil product importer, Petrolimex, and the Military Petrochemical Joint Stock Company and PG Bank. It was established in April 2008 with a registered capital of VND150 billion (US$8.1 million). It began to sell jet fuel to Cambodia in late 2008.

United Airlines and Japan Airlines were the firms’ first HCMC customers at Tan Son Nhat Airport on Monday. Petrolimex Jet Fuel plans to expand to airports in Da Nang and Hanoi, Vietnam Economic Times reported on Wednesday.

Until Monday, all jet fuel sales at airports had been handled by Vinapco, a unit of national flag carrier Vietnam Airlines. It was fined VND3 billion ($168,300) last year for cutting off fuel supplies to Jetstar Pacific on in April following a price dispute.

ThanhNien, Agencies

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