Castrol Bp Petco Limited Liability Company (Vietnam)

Castrol Bp Petco Limited Liability Company is a joint venture between one of the world's largest energy companies, BP (through its subsidiaries), and the downstream corporation in Vietnam, Vietnam National Petroleum Group (Petrolimex, HOSE: PLX). With more than 30 years of operation in the Vietnamese market, the subject has occupied a large market share in the field of lubricant production and distribution with Castrol and BP, the two leading brands in Vietnam's automotive lubricants market for industrials and consumers. Its plant in Nha Be District is one of Vietnam's biggest grease and blending manufacturers. According to a source, in 2023, Castrol Bp Petco Limited Liability Company continued to maintain good production and business performance and is one of the top businesses paying the highest taxes in Ho Chi Minh City.As collected, in 2021, the joint venture partners announced the renewal of their joint venture agreement for the next twenty years, from 2022 to 2042. The joint venture company still operates under the current name. Two shareholders (Castrol Limited – 6% and BP Oil Vietnam Limited – 59%) are two subsidiaries of BP p.l.c – the ultimate parent company, a British multinational oil and gas company headquartered in London, England, whose shares are listed on London Stock Exchange under trading symbol “BP”.