Petrolimex Accelerates Green Transformation with Highway EV Charging Network and 2026 Carbon Neutrality Roadmap
Date : 2026-02-05
Reading : 110
Vietnam National Petroleum Group (Petrolimex, ticker PLX) is currently undergoing a significant strategic shift, transitioning from its traditional role as the country's dominant fuel distributor into a diversified green energy and digital service provider. This transformation is driven by a comprehensive roadmap targeting carbon neutrality by 2026 and a rapid expansion of electric vehicle (EV) infrastructure across Vietnam's critical transportation corridors.
Figure Petrolimex 2026 Leading Vietnam's Transition to Green Energy
Strategic Expansion into Highway EV Infrastructure
A central pillar of the Petrolimex growth strategy is the development of a nationwide EV charging network. The group has focused its efforts on securing management rights for rest stops along the North-South Expressway. Currently, Petrolimex has successfully won bids for eight rest stop locations across the first and second phases of the eastern North-South Expressway project. Specific locations include key sections such as Mai Son - National Highway 45, Nghi Son - Dien Chau, and Nha Trang - Cam Lam.
To accelerate this rollout, Petrolimex has established strategic partnerships with leading EV infrastructure players. In 2022, the group signed a cooperation agreement with VinFast to integrate charging stations into its existing petrol station network. More recently, in mid-2025, the board approved a partnership with V-Green Global Charging Station Development JSC to further deepen its infrastructure footprint. These initiatives are supported by the group's internal construction arm, PGCC, which handles the technical execution of these energy-service stations.
The 2026 Carbon Neutrality Roadmap
Petrolimex has set an ambitious target to achieve carbon neutrality for Scope 1 (direct emissions) and Scope 2 (indirect energy emissions) by 2026. As of 2024, the group direct emissions stood at approximately 137,866 tCO2e, while indirect energy emissions were 50,127 tCO2e. To achieve its 2026 goal, Petrolimex became the first major state-owned enterprise in Vietnam to receive the ISO 14064-1:2018 certification for greenhouse gas verification from the British Standards Institution (BSI).
The execution roadmap involves four key phases:
1. Measurement and accounting of emissions across the entire system.
2. Greening infrastructure through rooftop solar installations, vapor recovery units (VRU) to reduce fuel evaporation, and 100 percent LED lighting implementation.
3. Product transition toward Euro V and Euro VI standard fuels, as well as the research into hydrogen, ammonia, and sustainable aviation fuel (SAF).
4. Carbon offsetting through international cooperation and afforestation projects.
Financial Performance and Market Resilience
From a financial perspective, Petrolimex maintains a robust position despite the thin margins typical of the petroleum distribution industry. In the third quarter of 2025, the group reported revenue of 45.88 trillion VND. Net profit for the quarter reached 527.5 billion VND, more than doubling compared to the same period in the previous year. This growth is attributed to optimized procurement strategies and improved cost control.
The group currently holds approximately 50 percent of Vietnam's petroleum retail market share, operating nearly 2,900 company-owned stations. While the shift toward EVs presents a long-term challenge to lubricant and traditional fuel demand, Petrolimex is mitigating these risks by pivoting toward asphalt for infrastructure projects and investing in the high-growth EV charging sector.
Digital Transformation as a Growth Lever
The 4.0 technology platform serves as the backbone of the Petrolimex modernization strategy. By utilizing ERP-SAP and EGAS management systems, the group has enhanced supply chain efficiency and significantly reduced losses during distribution. Innovation such as RFID automated payments and smart camera identification at filling stations are being deployed to improve customer experience and operational transparency.
Table Key Strategic Metrics and Data Overview
Future Outlook
Looking ahead, Petrolimex is positioning itself as a leader in Vietnam's energy transition. The group's 2025 investment focus remains on the development of highway rest stops and the digitalization of its retail network. By combining its massive physical footprint with green energy solutions and advanced technology, Petrolimex aims to secure a second growth curve as fossil fuel demand stabilizes and the transition to renewable energy accelerates.
About HDIN Research
Profile: HDIN Research focuses on providing market consulting services. As an independent third-party consulting firm, it is committed to providing in-depth market research and analysis reports.
Website: www.hdinresearch.com
E-mail: sales@hdinresearch.com
Figure Petrolimex 2026 Leading Vietnam's Transition to Green Energy
Strategic Expansion into Highway EV InfrastructureA central pillar of the Petrolimex growth strategy is the development of a nationwide EV charging network. The group has focused its efforts on securing management rights for rest stops along the North-South Expressway. Currently, Petrolimex has successfully won bids for eight rest stop locations across the first and second phases of the eastern North-South Expressway project. Specific locations include key sections such as Mai Son - National Highway 45, Nghi Son - Dien Chau, and Nha Trang - Cam Lam.
To accelerate this rollout, Petrolimex has established strategic partnerships with leading EV infrastructure players. In 2022, the group signed a cooperation agreement with VinFast to integrate charging stations into its existing petrol station network. More recently, in mid-2025, the board approved a partnership with V-Green Global Charging Station Development JSC to further deepen its infrastructure footprint. These initiatives are supported by the group's internal construction arm, PGCC, which handles the technical execution of these energy-service stations.
The 2026 Carbon Neutrality Roadmap
Petrolimex has set an ambitious target to achieve carbon neutrality for Scope 1 (direct emissions) and Scope 2 (indirect energy emissions) by 2026. As of 2024, the group direct emissions stood at approximately 137,866 tCO2e, while indirect energy emissions were 50,127 tCO2e. To achieve its 2026 goal, Petrolimex became the first major state-owned enterprise in Vietnam to receive the ISO 14064-1:2018 certification for greenhouse gas verification from the British Standards Institution (BSI).
The execution roadmap involves four key phases:
1. Measurement and accounting of emissions across the entire system.
2. Greening infrastructure through rooftop solar installations, vapor recovery units (VRU) to reduce fuel evaporation, and 100 percent LED lighting implementation.
3. Product transition toward Euro V and Euro VI standard fuels, as well as the research into hydrogen, ammonia, and sustainable aviation fuel (SAF).
4. Carbon offsetting through international cooperation and afforestation projects.
Financial Performance and Market Resilience
From a financial perspective, Petrolimex maintains a robust position despite the thin margins typical of the petroleum distribution industry. In the third quarter of 2025, the group reported revenue of 45.88 trillion VND. Net profit for the quarter reached 527.5 billion VND, more than doubling compared to the same period in the previous year. This growth is attributed to optimized procurement strategies and improved cost control.
The group currently holds approximately 50 percent of Vietnam's petroleum retail market share, operating nearly 2,900 company-owned stations. While the shift toward EVs presents a long-term challenge to lubricant and traditional fuel demand, Petrolimex is mitigating these risks by pivoting toward asphalt for infrastructure projects and investing in the high-growth EV charging sector.
Digital Transformation as a Growth Lever
The 4.0 technology platform serves as the backbone of the Petrolimex modernization strategy. By utilizing ERP-SAP and EGAS management systems, the group has enhanced supply chain efficiency and significantly reduced losses during distribution. Innovation such as RFID automated payments and smart camera identification at filling stations are being deployed to improve customer experience and operational transparency.
Table Key Strategic Metrics and Data Overview
| Category | Metric | Details |
|---|---|---|
| EV Infrastructure | Highway Rest Stops | 8 locations secured on North-South Expressway; target to bid for 11 more sites. |
| Sustainability | Carbon Neutrality Target | Net-zero for Scope 1 and Scope 2 by 2026; certified via ISO 14064-1. |
| Financials (Q3 2025) | Revenue and Profit | Revenue: 45.88 trillion VND; Net Profit: 527.5 billion VND. |
| Market Share | Distribution Dominance | Approximately 50% market share with 2,898 owned stations. |
| Technology | Digital Integration | Full implementation of ERP-SAP, EGAS, and automated payment systems. |
Looking ahead, Petrolimex is positioning itself as a leader in Vietnam's energy transition. The group's 2025 investment focus remains on the development of highway rest stops and the digitalization of its retail network. By combining its massive physical footprint with green energy solutions and advanced technology, Petrolimex aims to secure a second growth curve as fossil fuel demand stabilizes and the transition to renewable energy accelerates.
About HDIN Research
Profile: HDIN Research focuses on providing market consulting services. As an independent third-party consulting firm, it is committed to providing in-depth market research and analysis reports.
Website: www.hdinresearch.com
E-mail: sales@hdinresearch.com