Hanoi (VNA) – Japan-Kuwait joint venture IdemitsuQ8, the first 100-percent-foreign-owned oil & gas retail company inVietnam, has opened its third petrol station in the northern province of HungYen.
Co-run by the Japanese Idemitsu Kosan Co. Ltd and KuwaitPetroleum Europe B.V., Idemisu Q8 established its first petrol station in Hanoiin October 2017. The event attracted attention thanks to the difference inservices between the company and other players in the market, when thecompany’s Director General braved the rain to greet customers at the stationduring the first days of operation.
It is noteworthy that Idemisu Q8 has selected locations forits petrol stations near industrial parks where there are large numbers ofJapanese companies.
Its second facility, also the biggest of Idemitsu Kosanoutside Japan, spans 10,000 m2 in Dong Hai 2 ward, Hai An district, in thenorthern Hai Phong port city. The location is at a service site near the DinhVu port.
Vietnam’s petrol retail market currently has more than14,000 petrol stations. The Vietnam National Petroleum Group (Petrolimex) owns5,200 stations or about 45 percent of the total, followed by PVOil with 3,000stations, Thanh Le 1,150 stations, and Saigon Petro 1,000 stations.-VNA
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