16:30 | 21/12/2015 Companies
Totalgaz Vietnam Limited has announced the acquisition of Malaysian company Petronas's liquefied petroleum gas business in Viet Nam.
Totalgaz Vietnam acquires Petronas' liquefied petroleum business — VNS Photo
The agreement signed late last week in Malaysia covers Petronas's two liquefied petroleum filling facilities in the northern city of Hai Phong and the southern province of Dong Nai together with a large portfolio of customers and partners.
With this purchase, Total will become the second largest LPG player in Viet Nam.
French-owned Total, one of the largest integrated oil and gas companies in the world, has been in Viet Nam for over 20 years in the LPG, lubricants and retail fuel businesses./.