GS Caltex said it has signed a memorandum of understanding with Vietnam’s Petrolimex Saigon to share its expertise in operating fuel stations.
State-run oil business Petrolimex runs more than 5,200 fuel stations in Vietnam, with a presence in all 63 provinces of the country. Under the agreement, GS Caltex will share its know-how on fuel 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 fuel 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.