Phạm Nhật Vượng, chairman of Vingroup. The establishment of the new company helps the conglomerate expand its activities into areas related to infrastructure and energy. — Photo courtesy of Vingroup

HÀ NỘI — Vingroup has decided to contribute capital to establish Vin Oil&Gas Global JSC (VOG), a company operating in the investment and trading of petroleum and oil and gas products.

According to the disclosed information, VOG has a charter capital of VNĐ1 trillion (US$38.5 million), with Vingroup holding a 51 per cent stake, equivalent to a capital contribution of VNĐ510 billion. 

The ownership makes Vingroup the controlling shareholder of the newly established company.

VOG is headquartered at the Symphony Office Building on Chu Huy Mân Street in the Vinhomes Riverside urban area, Phúc Lợii Ward, Hà Nội.

The company's principal business activities are investment in and trading of petroleum, oil and gas. No further information has been disclosed on the specific segments or projects that VOG will focus on.

The establishment of VOG comes as Vingroup has expanded its activities into areas related to infrastructure and energy.

In August 2025, the group announced the addition of infrastructure and green energy as two new pillars of its operations, alongside technology-industry, commerce-services and social philanthropy. 

Vingroup said the new orientation was aimed at expanding its involvement in basic infrastructure and energy sectors in Việt Nam.

In the energy sector, Vingroup has in recent years developed an ecosystem around green transportation and electric vehicles through VinFast, together with activities related to infrastructure serving the transition towards electric mobility.

The establishment of VOG adds another area of activity for the group in the energy sector, although details of the new company's intended business focus have not yet been disclosed.

The move comes against a backdrop of considerable volatility in global oil and gas markets, with geopolitical developments and energy prices affecting businesses across the petroleum supply chain.

The Ministry of Industry and Trade recently assessed that the energy market in the final months of 2026 and in 2027 would continue to be affected by the conflict in the Middle East, energy demand, transportation and insurance costs, as well as the risk of disruptions to international supply routes.

According to the ministry, domestic petroleum supply is basically being ensured, but diversifying import sources and maintaining appropriate reserves are becoming increasingly important amid volatility in international markets.

Global oil prices have also risen sharply amid concerns that tensions in the Middle East could disrupt supply. Changes in crude oil prices have a direct impact on input costs, selling prices and profit margins for businesses involved in the petroleum trading chain.

Việt Nam remains significantly dependent on imported crude oil and petroleum products.

ACBS forecasts that consumption of petroleum products in Việt Nam could increase by more than 8 per cent annually, driven by economic growth.

The increase in demand provides room for the market, while oil price volatility and international supply conditions remain important factors for businesses operating in the sector. — BIZHUB/VNS