Pham Duc Thang, the new general director of Petrolimex, starting from November 1, 2017. — Photo petrolimex.com.vn

Vietnam National Petroleum Group (Petrolimex) has appointed Pham Duc Thang as the new general director of the group for a period of three years, starting November 1, 2017.

Thang is previously Petrolimex’s deputy general director and member of the Board of Directors.

He replaced Tran Van Thinh, who reached the retirement age according to current regulations.

On October 17, Petrolimex also appointed Dao Nam Hai as the new deputy general director of Petrolimex, starting October 1, 2017.

Hai is currently the representative of Petrolimex’s capital at Petrolimex Joint Stock Insurance Company (PJICO) and also PJICO’s general director.

In April, Petrolimex's 1.3 million shares were listed on the HCM Stock Exchange , with the reference price on the first trading day at VND43,200 (US$1.9) per share.

After more than six months of being listed, Petrolimex’s share is trading at a price of VND62,000 per share. During this period, Petrolimex also spent nearly VND3.7 trillion to pay dividend for 2016 at the rate of 32.24 per cent. — VNS