Sustainable
Development Report2024

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Corporate
Governance

Leadership

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Solid corporate governance is the foundation that affirms Petrolimex's vision, helping the Group maintain position, enhancing competitiveness and developing sustainably.

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Chairman of the Board

Mr. Pham Van Thanh

BOD Member
General Director

Mr. Luu Van Tuyen

BOD Member
Deputy General Director

Mr. Tran Ngoc Nam

BOD Member
Non-executive members

Mr. Tran Tuan Linh

BOD Member
Non-executive members

Mr. Nguyen Anh Dung

BOD Member

Mr. Dinh Thai Huong

General Director

Luu Van Tuyen

Deputy General Director

Tran Ngoc Nam

Deputy General Director

Nguyen Dinh Duong

Deputy General Director

Nguyen Quang Dung

Deputy General Director

Nguyen Van Su

Deputy General Director

Nguyen Xuan Hung

Deputy General Director

Nguyen Si Cuong

Deputy General Director

Nguyen Ngoc Tu

CHIEF ACCOUNTANT

Nguyen Ba Tung

NoBoard of Directors MemberTitleNumber of
shares held		Percentage of
voting share		Number of shares owned
by related persons		Legal violationConflicting interests with PetrolimexRelated benefits for
Petrolimex
01Mr. PHAM VAN THANHChairman of the Board of
Directors in full charge		420,390,12432.49%0NoneNoneNone
02Mr. LUU VAN TUYENExecutive member of the Board of
Directors (General Director)		93,549,4177.23%0NoneNoneNone
03Mr. TRAN TUAN LINHNon-executive members of the Board of Directors93,549,4177.23%0NoneMPmeMPme
04Mr. TRAN NGOC NAMExecutive member of the Board of Directors
(Deputy General Director in charge)		93,549,4175,0007.23%0.00039%0NoneNoneNone
05Mr. NGUYEN ANH DUNGNon-executive members of
the Board of Directors		11,1000.00086%0NoneNoneNone
06Mr. ENDO TSUYOSHINon-executive members of
the Board of Directors		169,228,47613.08%0NoneNoneNone
08Mr. DINH THAI HUONGIndependent member of
the Board of Directors		32,8000.0025%0NoneNoneNone

Mr. PHAM VAN THANH

  • Title

    Chairman of the Board of
    Directors in full charge

  • Number of shares held

    420,390,124

  • Percentage of voting share

    32.49%

  • Number of shares owned
    by related persons

    0

  • Legal violation

    None

  • Conflicting interests with
    Petrolimex

    None

  • Related benefits for
    Petrolimex

    None

Mr. LUU VAN TUYEN

  • Title

    Executive member of the
    Board of Directors (General Director)

  • Number of shares held

    93,549,417

  • Percentage of voting share

    7.23%

  • Number of shares owned
    by related persons

    0

  • Legal violation

    None

  • Conflicting interests with
    Petrolimex

    None

  • Related benefits for
    Petrolimex

    None

Mr. TRAN TUAN LINH

  • Title

    Non-executive members of
    the Board of Directors

  • Number of shares held

    93,549,417

  • Percentage of voting share

    7.23%

  • Number of shares owned
    by related persons

    0

  • Legal violation

    None

  • Conflicting interests with
    Petrolimex

    None

  • Related benefits for
    Petrolimex

    None

Mr. TRAN NGOC NAM

  • Title

    Executive member of the Board of Directors
    (Deputy General Director in charge)

  • Number of shares held

    93,549,4175.000

  • Percentage of voting share

    7,23%0,00039%

  • Number of shares owned
    by related persons

    0

  • Legal violation

    None

  • Conflicting interests with
    Petrolimex

    None

  • Related benefits for
    Petrolimex

    None

Mr. NGUYEN ANH DUNG

  • Title

    Non-executive members of
    the Board of Directors

  • Number of shares held

    11,100

  • Percentage of voting share

    0.00086%

  • Number of shares owned
    by related persons

    0

  • Legal violation

    None

  • Conflicting interests with
    Petrolimex

    None

  • Related benefits for
    Petrolimex

    None

Mr. ENDO TSUYOSHI

  • Title

    Non-executive members of
    the Board of Directors

  • Number of shares held

    169,228,476

  • Percentage of voting share

    13.08%

  • Number of shares owned
    by related persons

    0

  • Legal violation

    None

  • Conflicting interests with
    Petrolimex

    None

  • Related benefits for
    Petrolimex

    None

Mr. DINH THAI HUONG

  • Title

    Independent member of
    the Board of Directors

  • Number of shares held

    32,800

  • Percentage of voting share

    0.0025%

  • Number of shares owned
    by related persons

    0

  • Legal violation

    None

  • Conflicting interests with
    Petrolimex

    None

  • Related benefits for
    Petrolimex

    None

  • REPRESENTATIVE OF STATE-OWNED
  • INDIVIDUAL
  • REPRESENTATIVE OF STRATEGIC SHAREHOLDER CAPITAL
No.Full nameTitleUnrestricted shares (*)Ownership percentage (*)Legal violationConflict of interestRelated benefits
01Luu Van TuyenGeneral Director--NoneNoneNone
02Tran Ngoc NamMember of Board of Directors,
Deputy General Director		5,0000.00039%NoneNoneNone
03Nguyen Van SuDeputy General Director--NoneNoneNone
04Nguyen Quang DungDeputy General Director8,1000.00063%NoneNoneNone
05Nguyen Xuan HungDeputy General Director6,0000.00046%NoneNoneNone
076Nguyen Sy CuongDeputy General Director--NoneNoneNone
07Nguyen Ngoc TuDeputy General Director2,3500.00018%NoneNoneNone
08Nguyen Dinh DuongDeputy General Director--NoneNoneNone

Luu Van Tuyen

  • Title

    General Director

  • Unrestricted shares (*)

    -

  • Ownership Percentage (*)

    -

  • Legal vilolations

    None

  • Conflict of interest

    None

  • Related benefits

    None

Tran Ngoc Nam

  • Title

    Member of the Board of Directors,
    Deputy General Director

  • Unrestricted shares (*)

    5,000

  • OWNERSHIP PERCENTAGE (*)

    0.00039%

  • Legal vilolation

    None

  • CONFLICT OF INTEREST

    None

  • RELATED BENEFITS

    None

Nguyen Van Su

  • Title

    Deputy General Director

  • UNRESTRICTED SHARES (*)

    -

  • POWNERSHIP PERCENTAGE (*)

    -

  • Legal vilolation

    None

  • CONFLICT OF INTEREST

    None

  • RELATED BENEFITS

    None

Nguyen Quang Dung

  • Title

    Deputy General Director

  • UNRESTRICTED SHARES (*)d

    8,100

  • OWNERSHIP PERCENTAGE (*)

    0.00063%

  • Legal vilolation

    None

  • CONFLICT OF INTEREST

    None

  • RELATED BENEFITS

    None

Nguyen Xuan Hung

  • Title

    Deputy General Director

  • UNRESTRICTED SHARES (*)

    6,000

  • OWNERSHIP PERCENTAGE (*)

    0.00046%

  • Legal vilolation

    None

  • CONFLICT OF INTEREST

    None

  • RELATED BENEFITS

    None

Nguyen Sy Cuong

  • Title

    Deputy General Director

  • UNRESTRICTED SHARES (*)

    -

  • OWNERSHIP PERCENTAGE (*)

    -

  • Legal vilolation

    None

  • CONFLICT OF INTEREST

    None

  • RELATED BENEFITS

    None

Nguyen Ngoc Tu

  • Title

    Deputy General Director

  • UNRESTRICTED SHARES (*)

    2.350

  • OWNERSHIP PERCENTAGE (*)

    0,00018%

  • Legal vilolation

    None

  • CONFLICT OF INTEREST

    None

  • RELATED BENEFITS

    None

Nguyen Dinh Duong

  • Title

    Deputy General Director

  • UNRESTRICTED SHARES (*)

    -

  • OWNERSHIP PERCENTAGE (*)

    -

  • Legal vilolation

    None

  • CONFLICT OF INTEREST

    None

  • RELATED BENEFITS

    None

NoFull namePositionNumber of shares held as of
31st December 2024 (shares)		Number of shares owned by related individuals as of
31st December 2024 (shares)
Conflicting interests
with the Group		Related Benefitsb
for the Group		Starting/
Ending date
(Being a member of Supervisory Board)
01Dang Quang TuanHead of the Supervisory Board018,800NoneNone26th June 2020
02Dinh Thi Kieu TrangSupervisor00NoneNone29th March 2022
03Hoàng Mai NinhSupervisor6,82012,900NoneNone27th April 2018
04Okuma AtsushiSupervisor0169,228,476NoneNone26th April 2024
05Mai Viet DungSupervisor--NoneNone26th April 2024
06Kuroda NorimasaSupervisor0169,228,476NoneNoneResigned from the position of Supervisor from 26th April 2024

Dang Quang Tuan

  • Position

    Head of the Supervisory Board

  • Number of shares held as of 31st December 2024 (shares)

    0

  • Number of shares owned by related individuals as of 31st December 2024 (shares)

    18,800

  • Conflicting interests with the Group

    None

  • Related Benefits for the Group

    None

  • Starting/Ending date (Being a member of Supervisory Board)

    26th June 2020

Dinh Thi Kieu Trang

  • Position

    Supervisor

  • Number of shares held as of 31st December 2024 (shares)

    0

  • Number of shares owned by related individuals as of 31st December 2024 (shares)

    0

  • Conflicting interests with the Group

    None

  • Related Benefits for the Group

    None

  • Starting/Ending date (Being a member of Supervisory Board)

    29th March 2022

Hoàng Mai Ninh

  • Position

    Supervisor

  • Number of shares held as of 31st December 2024 (shares)

    6,820

  • Number of shares owned by related individuals as of 31st December 2024 (shares)

    12,900

  • Conflicting interests with the Group

    None

  • Related Benefits for the Group

    None

  • Starting/Ending date (Being a member of Supervisory Board)

    27th April 2018

Okuma Atsushi

  • Position

    Supervisor

  • Number of shares held as of 31st December 2024 (shares)

    0

  • Number of shares owned by related individuals as of 31st December 2024 (shares)

    169,228,476

  • Conflicting interests with the Group

    None

  • Related Benefits for the Group

    None

  • Starting/Ending date (Being a member of Supervisory Board)

    26th April 2024

Mai Viet Dung

  • Position

    Supervisor

  • Number of shares held as of 31st December 2024 (shares)

    -

  • Number of shares owned by related individuals as of 31st December 2024 (shares)

    -

  • Conflicting interests with the Group

    None

  • Related Benefits for the Group

    None

  • Starting/Ending date (Being a member of Supervisory Board)

    26th April 2024

Kuroda Norimasa

  • Position

    Supervisor

  • Number of shares held as of 31st December 2024 (shares)

    0

  • Number of shares owned by related individuals as of 31st December 2024 (shares)

    169,228,476

  • Conflicting interests with the Group

    None

  • Related Benefits for the Group

    None

  • Starting/Ending date (Being a member of Supervisory Board)

    Resigned from the position of Supervisor from 26th April 2024

Shareholder
structure

Shareholder
structure

Domestic ownership

Insiders and related persons of Insiders

0.01%

Commission for the Management of State Capital at Enterprises

75.87%

Vietnam National Petroleum Group

1.80%

Trade Union

0.39%

Other domestic individuals and institutions

4.35%

ENEOS Vietnam Company Limited

13.08%

Other foreign individuals and institutions

4.5%

Domestic ownership

82.42%

Foreign ownership

17.58%

The implementation of ASEAN scorecard and principles of corporate governance

In 2024, Petrolimex strictly complied with all applicable laws and regulations on corporate governance and listed company operations. Concurrently, the Company remained committed to enhancing its governance quality in accordance with international best practices, with close alignment to the OECD Principles of Corporate Governance, the ASEAN Corporate Governance Scorecard, and the Corporate Governance Code of Best practices 2019.

12Principles

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KEY RISKS AND PREVENTIVE MEASURES

01

Inventory risk and oil price risk

As our core business relies heavily on petroleum products, Petrolimex is significantly affected by fluctuations in supply and pricing. In 2024, to address these challenges, the company proactively developed plans, diversified suppliers, controlled inventory, and prepared contingency scenarios for natural disasters—ensuring continuous supply, especially during Typhoon Yagi.

Impact High

02

Risks of fire safety, environmental safety and occupational health

Due to the highly flammable nature of our products, Petrolimex prioritizes fire safety, environmental protection, and occupational health and safety. The Group has issued comprehensive technical procedures and safety regulations, conducts regular and ad-hoc inspections, and organizes emergency response drills to enhance risk prevention and management across the entire system.

Impact Medium