GS Caltex said Friday it has signed a memorandum of understanding with Vietnam’s Petrolimex Saigon to share its expertise in operating gas stations.
State-run oil business Petrolimex runs more than 5,200 gas stations in Vietnam, with a presence in all 63 provinces of the country. It launched Vietnam’s first self-service gas station in Ho Chi Minh City in January.
Huh Cheol-hong (second from left), vice president of GS Caltex Business Innovation, Nguyen Van Canh (third from left), president of Petrolimex Saigon, and Hur Joon-hong (fourth from left), executive vice president of GS Caltex Lubricants Business, pose for a photo during a meeting at the Petrolimex Saigon office in Vietnam. (GS Caltex)
Under the agreement, GS Caltex will share its know-how on gas station operations in terms of technology and services, such as fueling, maintenance and car wash, based on its expertise in the domestic oil market.
The Korean oil refiner said the two companies will also cooperate to develop offline businesses at Petrolimex Saigon’s gas stations by introducing its auto maintenance franchise autoOasis.
“The agreement provides us with an opportunity to enter the fast-growing Vietnamese market. Starting from Vietnam, we will continue to consider ways to expand our business to other ASEAN countries,” said a GS Caltex official.
By Kim Da-sol (email@example.com