Vietnam imported petroleum products to the tune of US$723 million in January, up from US$633 million in December, a change of 14.12 percent, according to preliminary data from Vietnam’s General Department of Customs.
Year to date, Vietnam had imported US$723 million worth of petroleum products by the end of January.
Singapore accounted for US$245 million worth of Vietnam’s petroleum products imports in January. This was up from US$214 million in petroleum products imports in December, a change of 14.21 percent. Year to date, Singapore has shipped US$245 million worth of petroleum products to Vietnam.
After Singapore, Malaysia making up US$172 million worth of Vietnam’s petroleum products imports in January. This was up from US$67 million in petroleum products imports in December, a change of 155.17 percent. Year to date, Malaysia has shipped US$172 million worth of petroleum products to Vietnam.
Next was South Korea contributing US$158 million worth of Vietnam’s petroleum products imports in January. This was up from US$136 million in petroleum products imports in December, a change of 16.05 percent. Year to date, South Korea has shipped US$158 million worth of petroleum products to Vietnam.
Following South Korea was China representing US$77 million worth of Vietnam’s petroleum products imports in January. This was down from US$110 million in petroleum products imports in December, a change of 30.05 percent. Year to date, China has shipped US$77 million worth of petroleum products to Vietnam.
Rounding out the top five was Thailand constituting US$71 million worth of Vietnam’s petroleum products imports in January. This was up from US$52 million in petroleum products imports in December, a change of 37.96 percent. Year to date, Thailand has shipped US$71 million worth of petroleum products to Vietnam.
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Listed petroleum products companies
Key petroleum products firms listed on the Vietnam stock exchange include:
An Pha Petrol Joint Stock Company
An Pha Petrol Joint Stock Company (ASP) trades liquefied gas, petroleum equipment and materials, and transports petroleum products.
ASP closed at VND 4,710 on Friday, down 0.08 percent with 118,000 shares traded, worth VND 56 million.
Foreign ownership in ASP is currently capped at 0.0 percent, with current foreign ownership sitting at 0.0 percent.
Binh Son Refining and Petrochemical JSC
Binh Son Refining and Petrochemical JSC (BSR) operates the Dung Quat Refinery and engages in refining crude oil and producing petroleum products.
BSR closed at VND 24,500 on Friday, up 0.6 percent with 133,645,000 shares traded, worth VND 323,836 million.
Foreign ownership in BSR is currently capped at 79.1 percent, with current foreign ownership sitting at 2.9 percent.
Petroleum Materials Distribution JSC
Petroleum Materials Distribution JSC (COM) trades petroleum products and distributes fuels and lubricants under the Petrolimex network.
COM closed at VND 35,450 on Friday, up 0.45 percent with 8,000 shares traded, worth VND 27 million.
Foreign ownership in COM is currently capped at 49.0 percent, with current foreign ownership sitting at 0.2 percent.
Petrolimex International Trading JSC
Petrolimex International Trading JSC (PIT) imports, exports, and trades petroleum, chemicals, and industrial materials.
PIT closed at VND 7,200 on Friday, down 0 percent with 3,000 shares traded, worth VND 2 million.
Foreign ownership in PIT is currently capped at 0.0 percent, with current foreign ownership sitting at 0.0 percent.
Petrolimex Joint Stock Tanker Company
Petrolimex Joint Stock Tanker Company (PJT) transports petroleum products by sea and provides maritime logistics services.
PJT closed at VND 8,890 on Friday, down 0 percent with 0 shares traded, worth VND 0 million.
Foreign ownership in PJT is currently capped at 0.0 percent, with current foreign ownership sitting at 0.0 percent.
Petrolimex Group JSC
Petrolimex Group JSC (PLX) is Vietnam’s largest petroleum distributor, operating fuel retail, storage, and logistics networks nationwide.
PLX closed at VND 52,000 on Friday, up 0.3 percent with 36,786,000 shares traded, worth VND 190,587 million.
Foreign ownership in PLX is currently capped at 20.0 percent, with current foreign ownership sitting at 15.3 percent.
PetroVietnam Drilling and Well Services Corporation
PetroVietnam Drilling and Well Services Corporation (PVD) provides oil drilling, engineering, and technical services for the petroleum industry.
PVD closed at VND 34,150 on Friday, up 1 percent with 56,034,000 shares traded, worth VND 187,226 million.
Foreign ownership in PVD is currently capped at 49.0 percent, with current foreign ownership sitting at 12.8 percent.
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Vietnam petroleum news
Recent developments include:
New loans for distressed fuel company
BIDV has continued extending credit to Petroleum Trading and Investment Joint Stock Company Nam Song Hau despite the fuel trader recording heavy losses and severe financial distress in 2025.
The company reported no operating revenue in the fourth quarter, large unsold inventories, minimal cash, and accumulated losses exceeding equity.
Gas wells for carbon capture
Hibiscus Petroleum has awarded a two-year contract to Reservoir Link to assess depleted gas wells for carbon capture and storage in the PM3 Malaysia Vietnam Commercial Arrangement Area.
The work covers subsurface review, modelling, and technical assurance following Hibiscus’s 2025 feasibility study.
The PM3 fields are operated by Hibiscus with a 35 percent stake and are owned by Petronas and PetroVietnam under a joint Malaysia-Vietnam arrangement.
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Vietnam’s petroleum industry
Vietnam’s petroleum industry spans upstream exploration and production, midstream storage and transport, and downstream refining and distribution.
Domestic crude output has declined in recent years, increasing reliance on imports to meet demand for fuels and petrochemical feedstock.
Key players include PetroVietnam in upstream activities and Binh Son Refining and Petrochemical and Nghi Son Refinery and Petrochemical in refining operations.
The sector remains sensitive to global oil price movements, exchange rate shifts and regulatory adjustments affecting retail fuel pricing.
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The data
Vietnam imports of petroleum products in January, US$m
| January | December | MoM | YTD | |
| Total | 722.79 | 633.35 | 14.12% | 722.79 |
| Other | 0.01 | 53.70 | -99.97% | 0.01 |
| Singapore | 244.85 | 214.38 | 14.21% | 244.85 |
| Malaysia | 171.82 | 67.34 | 155.17% | 171.82 |
| South Korea | 157.86 | 136.02 | 16.05% | 157.86 |
| China | 77.15 | 110.30 | -30.05% | 77.15 |
| Thailand | 71.10 | 51.54 | 37.96% | 71.10 |
| Russia | 0.00 | 0.07 | -100.00% | 0.00 |