Petrolimex earnings, price debate, and digital expansion

In July 2026, Petrolimex reported a 49% rise in six‑month revenue to VND 215 trillion, while pre‑tax profit slipped slightly. The company highlighted strong domestic demand, expanded its E10 bio‑fuel network to over 2,800 stations, and set ambitious 2026 revenue and profit targets. Deputy Prime Minister Phạm Gia Túc praised its role in securing fuel supply and urged further investment in infrastructure and digital transformation.

By early August 2026, analysis shifted to the broader implications of the fuel sector’s profitability. Commentators noted that despite large revenue gains, Petrolimex’s net profit margin remained thin—around 1%—and questioned whether higher earnings benefit consumers under Vietnam’s 2023 Price Stabilization Law. The discussion emphasized the need to balance state, enterprise, and consumer interests in fuel price setting, suggesting that strong earnings alone do not guarantee favorable outcomes for the public.

Newer data from August 2026 indicates that volatile global oil prices contributed to strong earnings for state‑owned fuel companies. Petrolimex reported net revenue of nearly VND 235 trillion, a 63% year‑on‑year increase, with net profit after tax exceeding VND 2.38 trillion. PVOIL also reported revenue of VND 135 trillion, though it faced a net loss in Q2 due to rising costs. Financial analyst Ngô Trí Long noted that profit margins remain thin—approximately 1% for Petrolimex and 0.35% for PVOIL—and cautioned that higher revenues do not automatically translate to higher profits when input costs rise.

Concurrently, Petrolimex announced plans to pay 2025 cash dividends at 12% of par value and intends to sell nearly 23.3 million treasury shares to strengthen financial capacity. The company also launched the ‘Petrolimex 2.0’ application and a co-branded card with BIDV and Visa to facilitate cashless payments and digital fuel management.