• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 3 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 days The United States produced more crude oil than any nation, at any time.
  • 2 days How Far Have We Really Gotten With Alternative Energy
  • 17 hours Bad news for e-cars keeps coming
  • 3 days China deletes leaked stats showing plunging birth rate for 2023
  • 4 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
China’s Secret Weapon in the Global Copper War

China’s Secret Weapon in the Global Copper War

China's strategic use of copper…

Vietnamese Energy Insurance Company to Issue IPO

Vietnam’s Petrolimex Joint Stock Insurance Co., the insurance entity of Vietnam's leading oil product importer, Vietnam National Petroleum Corporation, or Petrolimex, will shortly float a initial public offering stock option on the government’s public exchange.

Petrolimex is Vietnam’s second largest state-owned firm in terms of revenue. Seeking to expand its working capital, Petrolimex Joint Stock Insurance Co. has tentatively scheduled its IPO stock option for 28 July at Hanoi’s Ho Chi Minh Stock Exchange (HNX).
Petrolimex Joint Stock Insurance Co.’s IPO share offering is intended to boost the company’s charter capital, of which the Vietnamese government retains more than 75 percent.

Petrolimex Joint Stock Insurance Co. intends to auction more than 27.4 million shares to the public with an initial share price of 15,000 Vietnamese dong, or 73¢ at the current exchange rate.

Petrolimex Joint Stock Insurance Co., also known as Pjico, is based in the capital Hanoi and is currently owned by eight investors including Petrolimex, Vietcombank, Vietnam Steel Corp. and Vietnam National Reinsurance Corp. and in 2010 had an 8 percent overall share of Vietnam's insurance premiums market.

Parent company Petrolimex has ambitious expansion designs, having recently unveiled plans to build a 200,000 barrel per day oil refinery complex in the country's central region at a cost estimated at over $4.4 billion.

By. Charles Kennedy, Deputy Editor OilPrice.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News