09:53 | 27/09/2018 Industry
Japan-Kuwait joint venture Idemitsu Q8, the first 100-percent-foreign-owned oil & gas retail company in Vietnam, has opened its third petrol station in the northern province of Hung Yen.
|Scene at the freshly opened Idemitsu Q8 petrol station in Hung Yen - Photo: VNA|
Co-run by the Japanese Idemitsu Kosan Co. Ltd and Kuwait Petroleum Europe B.V., Idemisu Q8 established its first petrol station in Hanoi in October 2017. The event attracted attention thanks to the difference in services between the company and other players in the market, when the company’s Director General braved the rain to greet customers at the station during the first days of operation.
It is noteworthy that Idemisu Q8 has selected locations for its petrol stations near industrial parks where there are large numbers of Japanese companies.
Its second facility, also the biggest of Idemitsu Kosan outside Japan, spans 10,000 m2 in Dong Hai 2 ward, Hai An district, in the northern Hai Phong port city. The location is at a service site near the Dinh Vu port.
Vietnam’s petrol retail market currently has more than 14,000 petrol stations. The Vietnam National Petroleum Group (Petrolimex) owns 5,200 stations or about 45 percent of the total, followed by PVOil with 3,000 stations, Thanh Le 1,150 stations, and Saigon Petro 1,000 stations.