The PetroVietnam Oil (PV Oil) Corporation will own 100 percent of Shell Laos as part of PV Oil’s strategy to develop its market to regional countries, including Cambodia and Laos.
A contract of transfer is to be signed on Dec. 17 and PV Oil plans to carry out business activities right after the conveyance.
The shares include 0.06 percent owned by individuals that were committed by Shell group and not to be influenced to business management of PV if those individuals do not transfer their shares.
PV Oil was established in June 2008 by merging the PetroVietnam Trading Corporation (Petechim) and the Oil
Processing and Distribution Company (PDC), both were subsidiaries of the Vietnam National Oil and Gas Group (PetroVietnam)./.