## PVFCCo-Phú Mỹ and PVOIL Sign a Strategic Cooperation Agreement for Comprehensive and Multi-Field Collaboration
On the afternoon of June 11, 2025, at the headquarters of the Petroleum Fertilizer and Chemicals Corporation (PVFCCo-Phú Mỹ, stock code: DPM), PVFCCo-Phú Mỹ and Vietnam Oil and Gas Group (PVOIL, stock code: OIL) signed a strategic cooperation agreement, marking the beginning of a comprehensive and multi-field collaboration between the two subsidiaries of the Vietnam National Oil and Gas Group (Petrovietnam).
The agreement reflects the aspirations and commitment of PVFCCo-Phú Mỹ and PVOIL to join forces in pursuing Petrovietnam’s strategic objectives, effectively utilizing each other’s infrastructure and expertise. The cooperation is built on the principles of equality, complementarity, and value creation, aiming towards enhanced productivity, optimized operations, and a comprehensive green transition for both entities.
As per the agreement, PVFCCo-Phú Mỹ and PVOIL will enhance collaboration across multiple dimensions, focusing on leveraging their existing strengths in infrastructure, logistics, distribution networks, and production capabilities. Together, they will explore and implement commercial, service, and investment solutions that align with their sustainable development strategies, improving supply chain efficiency and expanding their domestic and regional market reach.
The signing of this agreement sets a model for developing multi-sector linkages, where solutions from various fields are flexibly integrated, creating a network of interwoven and interconnected value chains. It also serves as an important step in anticipating new trends such as energy transition, green economy, circular economy, and digital transformation, asserting their pioneering capabilities in a dynamic economic landscape.
The first initiative under this collaboration is the joint supply of Diesel Exhaust Fluid (DEF), a solution that treats NOx emissions from diesel engines, converting them into nitrogen and water vapor, thereby purifying the exhaust of harmful substances. The main component of DEF/Phú Mỹ Xanh is urea, and PVFCCo-Phú Mỹ is one of the largest urea producers in Vietnam.
Mr. Nguyen Xuan Hoa, Chairman of the Board of Directors of PVFCCo-Phú Mỹ, expressed his expectation that the cooperation in distributing DEF/Phú Mỹ Xanh would pave the way for more extensive collaboration between the two companies in the future, especially with environmentally friendly products such as green hydrogen and green NH3. To promptly implement the agreement, he proposed the formation of a task force to develop a detailed plan with specific targets, initially aiming to introduce 10,000 – 20,000 cubic meters of DEF/Phú Mỹ Xanh to the market annually.
Mr. Cao Hoai Duong, Chairman of the Board of Directors of PVOIL, shared that with their extensive distribution network of 900 retail outlets and over 30 warehouses nationwide, PVOIL is well-positioned to swiftly and effectively bring DEF/Phú Mỹ Xanh to market. The estimated demand for DEF/Phú Mỹ Xanh from PVOIL customers alone could reach 15,000 to 30,000 cubic meters per year.
In addition to the collaboration on DEF/Phú Mỹ Xanh distribution, Mr. Cao Hoai Duong expressed his desire to expand cooperation in storing PVFCCo-Phú Mỹ’s NH3 in PVOIL’s warehouse system and gaining access to PVFCCo-Phú Mỹ’s transportation business customers.
The DEF/Phú Mỹ Xanh produced by PVFCCo-Phú Mỹ meets international standards and will be distributed at PVOIL’s gas stations nationwide. Through this initiative, the two companies contribute to cleaner air and a greener environment, especially in urban areas.
PVFCCo-Phú Mỹ is one of Vietnam’s largest urea producers and is gradually expanding into the chemicals and environmental sectors, leveraging its modern complex of plants in Phú Mỹ and its strong linkage with Petrovietnam’s petrochemical chain.
PVOIL, on the other hand, is a leading distributor of petroleum products in Vietnam, with nearly 900 retail outlets across the country, accounting for approximately 23% of the market share. The company is also a pioneer in digital transformation with cashless payment applications like PVOIL Easy, PVOIL 4U, and PVOIL B2B. They are at the forefront of energy transition, having collaborated on the installation and operation of over 400 electric vehicle charging stations at their gas stations. PVOIL actively develops non-fuel services and aims to become a leading diverse energy provider in the future.
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On June 11, at the headquarters of the PetroVietnam Fertilizer and Chemicals Corporation (PVFCCo – Phu My, HOSE: DPM), PVFCCo – Phu My and Vietnam Oil and Gas Group (PVOIL, UPCoM: OIL) signed a strategic cooperation agreement. This marks the beginning of a new phase of comprehensive and diverse collaboration between these two subsidiaries of the Vietnam National Oil and Gas Group (Petrovietnam).
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