The cooperation agreement signifies PVFCCo – Phu My and PVOIL’s aspiration and commitment to joining forces in implementing Petrovietnam’s strategic objectives. It aims to capitalize on the ecosystem of infrastructure and expertise of both entities. The collaboration is built on the principles of equality, complementarity, and value creation, striving for enhanced productivity, optimized operations, and a comprehensive green transformation.
A glimpse of the strategic cooperation agreement signing ceremony between PVFCCo – Phu My and PVOIL.
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As per the agreement, PVFCCo – Phu My and PVOIL will enhance cooperation across multiple dimensions, focusing on harnessing their strengths in infrastructure, logistics, distribution networks, and manufacturing capabilities. Together, they will explore and implement commercial, service, and investment solutions that align with their sustainable development strategies. This includes enhancing supply chain efficiency and expanding their domestic and regional market reach.
Mr. Nguyen Xuan Hoa, Chairman of PVFCCo – Phu My’s Board of Directors, anticipates that the collaboration on distributing DEF/Phu My Xanh will pave the way for more extensive cooperation between the two entities in the future.
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The signing of this cooperation agreement sets a precedent for developing multi-industry linkage models. It showcases the integration of flexible, multi-domain solutions, creating a network of intertwined and interconnected value chains. This move also prepares the companies to embrace new trends such as energy transition, green economy, circular economy, and digital transformation, solidifying their pioneering position in a dynamic economic landscape.
The first initiative under this collaboration is the joint supply of Diesel Exhaust Fluid (DEF) to the market. DEF is a solution that treats NOx in diesel engine emissions, converting them into harmless nitrogen and water vapor. Phu My Xanh’s main component is urea, and PVFCCo – Phu My is one of the largest urea producers in Vietnam.
Mr. Cao Hoai Duong, Chairman of PVOIL’s Board of Directors, highlighted that with its extensive distribution network of nearly 900 retail stores nationwide, PVOIL can efficiently introduce DEF/Phu My Xanh to the market.
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During the ceremony, Mr. Nguyen Xuan Hoa, Chairman of PVFCCo – Phu My’s Board of Directors, expressed his optimism that the collaboration on DEF/Phu My Xanh distribution would pave the way for more extensive cooperation on eco-friendly products like green hydrogen and green NH3. To expedite the implementation of the agreement, he proposed forming a task force to develop a detailed plan with specific targets. The initial goal is to introduce 10,000-20,000 cubic meters of DEF/Phu My Xanh to the market annually.
 The cooperation agreement signing between PVFCCo – Phu My and PVOIL sets a precedent for multi-industry linkage models.
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Mr. Cao Hoai Duong, Chairman of PVOIL’s Board of Directors, emphasized that with nearly 900 retail stores and over 30 warehouses across Vietnam, PVOIL is well-positioned to distribute DEF/Phu My Xanh effectively. He estimated that PVOIL’s demand for DEF/Phu My Xanh could reach 15,000-30,000 cubic meters per year.
In addition to DEF/Phu My Xanh distribution, Mr. Cao Hoai Duong expressed his interest in expanding cooperation to include the storage of NH3 from PVFCCo – Phu My in PVOIL’s warehouse system. He also hoped that PVOIL could engage with transportation companies that are customers of PVFCCo – Phu My.
 The internationally certified DEF/Phu My Xanh produced by PVFCCo – Phu My.
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The DEF/Phu My Xanh produced by PVFCCo – Phu My meets international standards. It will be distributed through PVOIL’s nationwide network of gas stations. By introducing this product, the two entities are contributing to cleaner air and a greener environment, especially in urban areas.
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PVFCCo – Phu My is one of the largest urea producers in Vietnam and is strategically expanding into the chemicals and environmental sectors. It leverages its state-of-the-art complex in Phu My and strong links with Petrovietnam’s petrochemical chain. Learn more about PVFCCo – Phu My at: www.dpm.vn PVOIL is a leading distributor of gasoline and oil in Vietnam, with nearly 900 retail stores nationwide, accounting for approximately 23% of the market share. PVOIL is also a pioneer in digital transformation with cashless payment applications and a leader in energy transition with over 400 electric vehicle charging stations at its gas stations. It aims to become a top provider of diverse energy solutions in the future. |
– 09:28 12/06/2025
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