PV Oil to build 400 biofuel stores

31/07/2011

With the development orientation of biofuels, Petro Vietnam Oil Corporation (PV Oil) focuses on developing distribution systems, investment and upgrading infrastructure so as to build 400 stores throughout the country by the end of this year to provide about 50.000m3 of E5 Ethanol bio petrol to the market.

According to Mr. Le Xuan Trinh, Deputy General Director of PV Oil, E5 petrol is a new type of fuel and first put to use in Vietnam, so consumers are still cautious when using.

With the development orientation of biofuels, Petro Vietnam Oil Corporation (PV Oil) focuses on developing distribution systems, investment and upgrading infrastructure so as to build 400 stores throughout the country by the end of this year to provide about 50.000m3 of E5 Ethanol bio petrol to the market.

According to Mr. Le Xuan Trinh, Deputy General Director of PV Oil, E5 petrol is a new type of fuel and first put to use in Vietnam, so consumers are still cautious when using. Meanwhile, the production and trading of E5 petrol in Vietnam is in the starting phase, the production cost cannot be cheaper than traditional gasoline so it is still not able to attract consumers.

In addition, the companies pioneering in production and distribution of biofuel do not have stable distribution networks. Under the development orientation of biofuel, from 2012 onwards, PV Oil will implement the trading of E5 petrol in the whole system if the State enacts the mandatory roadmap of using biofuel across the country or issues policies supporting the manufacturing and trading of biofuel and bio petrol.

According to PV Oil, since E5 petrol was officially launched to the market on Aug 1st 2010 with 12 first points of sale, to date, the biofuel trading network across the country under Vietnam National Oil and Gas Corporation has reached 50 stores with nearly 4.000m3 of gasoline supplied to the market.

By Minh Duc

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