Vingroup of Southeast Asia's richest man enters oil industry with new company
Vingroup has established Vin Oil&Gas Global Jsc (VOG), a company operating in the investment and trading of petroleum and oil and gas products.
Southeast Asia's wealthiest individual, Pham Nhat Vuong, has founded a new company called VOG to enter the oil industry. Vingroup, Vietnam's largest listed company controlled by Vuong, holds a 51% stake in VOG with a charter capital of VND1 trillion ($38.5 million). The principal business activities of VOG will be investment in and trading of petroleum, oil, and gas. This move aligns with Vingroup's recent expansion into infrastructure and energy, with the new company adding another area of activity in the energy sector.
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