Hochiminh City Petroleum Company Limited (Cong Ty Tnhh Mot Thanh Vien Dau Khi Thanh Pho Ho Chi Minh) (Vietnam)

The current activities of the subject include:+ Manufacturing petroleumThe average annual production output of the factory is about 300,000 tons of finished products+ Petrol trading.SAIGON PETRO imports and supplies to the market from the South Central to Western provinces with the number of 35 general agents with over 1,000 retail agents. Besides, the subject has 10 petrol stations with business volume of about 20,000 m3 / year+ Gas trading.The company has supplied to the market over 1 million gas cylinders of all kinds, with a system of 70 distributors with nearly 5,000 agents from Da Nang and above, accounting for about 15% of the national market.Besides, it also provides solvents and service operators using bridges and ports. Subject is one of leading units in importing, exporting and trading of petroleum and gas throughout the country.Due to Covid 19 pandemic, world oil price decreased strongly and affected much on businesses in field. Subject is not out of this situation. In the first months of 2020, the gasoline sales volume of Saigon Petro has decreased by more than 50% compared to normal in one month. Besides, its supply is also scarce, potentially risky. At the end of April 2020, the subject saw the demand increase, so it actively invited bid to import the consignments at the end of May and early June but could not buy. Besides, Binh Son refinery announced a 10% reduction in the supply from June and July under a long-term contract signed at the beginning of the year with the subject. Thus, its business result in 2020 will not good as expected.