Viettel and Petrolimex Sign Strategic Partnership for Smart Petrol Stations

Overview

Viettel and Petrolimex (PLX) signed a strategic partnership agreement on May 25, 2026, covering six pillars: digital infrastructure, smart petrol stations, cashless payments, big data/AI, clean energy, and insurance. The collaboration aims to digitize Petrolimex’s 5,500-store network and enhance operational efficiency. PLX shares closed at VND 40,000 on May 26, up 0.76%.

Key Facts

• Petrolimex operates 5,500 petrol stations nationwide.
• The partnership covers six strategic pillars: digital infrastructure, smart petrol stations, cashless payments, big data/AI, clean energy, and insurance.
• Viettel will deploy Smart Petrol Station solutions using AI/IoT for tank measurement, flow monitoring, and leak detection.
• Cashless payments will be enabled via ePass traffic accounts, Viettel Money, and My Viettel platforms.
• The two companies will collaborate on clean energy, including renewable energy, fleet electrification, and EV charging stations at Viettel’s ecosystem.
• Petrolimex is a state-owned enterprise with 70 years of history and is among Vietnam’s top revenue and tax contributors.
• Viettel operates in 11 countries across three continents with over 50,000 employees.

What Happened

On May 25, 2026, at Viettel’s headquarters in Hanoi, Viettel and Petrolimex signed a strategic cooperation agreement, marking a new phase of collaboration between two leading state-owned enterprises. The agreement focuses on six strategic pillars aimed at digital transformation and operational efficiency.

Under the deal, Viettel will share its IT and telecom infrastructure expertise to deploy smart petrol station management solutions, including AI/IoT applications for tank monitoring, flow control, and leak alerts. The partnership also includes cashless payment solutions via ePass and Viettel Money, integration of CRM, ERP, and CDP systems, and big data/AI for data governance. Additionally, the two groups will explore clean energy projects, fleet electrification, and EV charging stations, as well as cooperate on insurance services.

Market Context

PLX, listed on HOSE, closed at VND 40,000 on May 26, 2026, with a volume of 2,008,600 shares. The stock has been relatively stable, reflecting Petrolimex’s dominant position in Vietnam’s fuel retail market. The partnership with Viettel, a state-owned telecom and technology giant, could provide PLX with a competitive edge in digitalization and clean energy transition, aligning with broader market trends toward ESG and digital transformation.

Strategic Significance

This partnership positions Petrolimex to modernize its retail network through digital solutions, potentially improving operational efficiency and customer experience. The focus on cashless payments and data analytics could enhance PLX’s ability to capture consumer insights and optimize supply chain. The clean energy component, including EV charging stations, signals Petrolimex’s preparation for the energy transition, which may attract ESG-focused investors. For Viettel, the deal expands its B2B digital services into the energy sector, creating a new revenue stream.

What to Watch

• Rollout timeline for smart petrol stations and cashless payment systems at Petrolimex outlets.
• Any pilot projects for EV charging stations at Viettel locations.
• Q2 2026 earnings reports from PLX for initial financial impact of the partnership.
• Regulatory developments regarding clean energy mandates or digital payment adoption in Vietnam.
• Potential expansion of the partnership to other state-owned enterprises in the energy sector.