Currently, 95 per cent of PV Gas’ charter capital is owned by the state, but it is expected to be reduced to 65 per cent by 2020. PV Gas hopes to approach new technology in order to improve performance and transparency.

Royal Dutch Shell PLC and Total Group (France) are long-term foreign investors of PV Gas. Later on in 2012, PV Gas and Tokyo Gas Co., Ltd. (Japan) established a comprehensive partnership. These three partners all hope to become strategic investors of PV Gas when the state divests from this company.

PV Gas has been studying the recent divestments of Vinamilk and Sabeco to draw up its own strategy. The company also revealed that it has spent $3.5 billion on several projects related to gas fields, pipelines, warehouses, and imported equipment.

As the country’s gas fields are becoming exhausted, the import demand will increase by 8-10 per cent by 2020. PV Gas has been building up an infrastructure system to serve import in the next years.

Last year, PV Gas’ consolidated revenue hit VND64.8 trillion ($2.85 billion) with VND9.8 trillion ($0.43 billion) in net revenue, increases of 9 and 37 per cent on-year, respectively. Business results are positive due to the increasing price of crude oil.

Last year, the price of crude oil increased by 10 per cent compared to the expected price, which was $50 per barrel. If the average price is $50 per barrel this year, PV Gas’ estimated revenue will be VND55.7 trillion ($2.5 billion) and net revenue will hit VND6.4 trillion ($0.28 billion).