Lao State Fuel Company (Laos)

Lao State Fuel Company (LSFC) is a 100% state-owned company located in Vientiane. It was established in 1976 as a fuel unit under the Ministry of Material and Supply. In 1980, it was renamed as a fuel supply company and in 1986, it was converted into a new business enterprise known as Lao State Fuel Company unit. In 1992, LSFC underwent reforms to improve its business operations and align with the new open government policy. LSFC's main objective is to stabilize petroleum energy for national socio-economic development and security. It competes with other private oil companies and has become a leader in the domestic fuel market. LSFC imports and distributes fuel, with the volume increasing each year to meet the country's growing fuel consumption. Please note that this summary strictly follows the given steps and does not include any additional information or comments.