Orient Oil And Gas Joint Stock Company (Vietnam)

Founded in 2010 in Can Tho City, the subject is engaged in producing and trading petroleum, solvent, liquefied gas and petrochemical products. According to Mr. Minh in Project Department of the subject, its factory has production capacity of 100,000 tons per year. Production activity brings about 30% revenue for the subject and the subject mainly supplies these products to Western provinces of Vietnam. Besides, the subject also imported petroleum from foreign countries (mainly from Singapore and Malaysia) to supply to domestic market. This activity brings about 70% revenue to the subject, said by Mr. Minh. The subject distributes imported goods mainly to Ha Noi, Ho Chi Minh City and Thua Thien Hue Province. It also has retailing stores with about 40 petroleum stations, as revealed.According to Mr. Minh, although being affected negatively by Covid-19 Pandemic in Apr and May 2020, net sales in 2020 still increased by 23.12% thanks to the increase in sales to thermal power plants (Duyen Hai Thermal Power and Hai Phong Thermal Power Plants). However, the fourth outbreak of Covid-19 Pandemic in Vietnam has been affecting negatively its operation. The factory has been implementing "three on-site” model (eating, staying and working on the site for workers) with about 50 employees since 18 Jul 2021. Therefore, the subject's factory just operates with about 70% of production capacity. Besides, trading activity has been also reduced since May 2021. According to Mr. Khuong Trung Thuy - Deputy General Director, revenue from trading activities from May 2021 reduced about 50% in average. He also said that the subject generated about VND 1,700 billion of sales for the first half 2021 and its target revenue for the whole years is VND 4,100 billion. However, this target might be failed because negative effects of Covid-19 Pandemic.