Petrolimex (PLX) Partners with China's Ohmee for Gas Station Convenience Stores

Overview

Petrolimex (PLX) has entered a strategic partnership with Ohmee, the Vietnamese brand of China’s Meiyijia convenience store chain, to open Ohmee Express stores at Petrolimex gas stations in Hanoi. This marks the first such collaboration for Petrolimex, which operates over 5,500 fuel outlets nationwide, as it seeks to expand into non-fuel retail. The move comes as foreign convenience store chains increasingly target Vietnam’s growing retail market.

Key Facts

• Ohmee is the Vietnamese brand of Meiyijia, a Chinese convenience store chain with over 40,000 points of sale in China.
• Two Ohmee Express stores have been launched at Petrolimex gas stations in Hanoi, targeting customers who want quick food and beverage purchases while refueling.
• Ohmee entered Vietnam around April 2026, with stores primarily located in Hanoi’s densely populated areas and urban districts.
• Petrolimex has more than 5,500 fuel stores in its distribution system across Vietnam.
• Vietnam’s retail market for goods and services reached nearly USD 270 billion in 2025, with goods retail at about USD 205 billion, according to the Ministry of Industry and Trade.
• The convenience store channel in Vietnam was valued at approximately USD 486 million in 2025, per Insight Asia.
• Oh!Some, a Singapore-based retail chain, is showing signs of contraction in Vietnam, with several stores temporarily closed and heavy discounts up to 80% in August 2026.

What Happened

According to a Facebook post by Ohmee, the company has implemented a strategic cooperation with Petrolimex and inaugurated a convenience store model at gas stations. Two Ohmee Express stores are now operating at Petrolimex stations in Hanoi, aiming to serve customers who stop for fuel and need quick purchases of food and beverages. Ohmee entered Vietnam around April 2026, and its stores have been concentrated in Hanoi’s populous areas and urban zones.

The partnership is expected to help Ohmee access a wide-reaching point-of-sale system, leveraging Petrolimex’s extensive network of over 5,500 fuel outlets. This is part of a broader trend of foreign retailers entering Vietnam, but the market has also seen challenges. For instance, Oh!Some, a Singapore-based retail chain under Blue Origin Group, has shown signs of shrinking operations in Vietnam, with many stores in Hanoi and Ho Chi Minh City posting “temporarily closed” notices and some shelves empty. The brand has not made an official announcement about its future direction in Vietnam.

Market Context

Petrolimex (PLX) trades on the HOSE exchange, with its stock closing at VND 36,000 on September 6, 2026. The company is a leading player in Vietnam’s oil and gas sector, and this partnership represents a strategic diversification into non-fuel retail. Vietnam’s retail market is expanding rapidly, with total retail sales of goods and services projected to grow 10-12% annually, reaching around USD 450 billion by 2030. The convenience store channel alone was worth about USD 486 million in 2025, presenting a significant growth opportunity for Petrolimex to monetize its prime gas station locations.

Strategic Significance

For Petrolimex, this partnership is a strategic step toward building a non-fuel retail revenue stream, a common practice among global oil majors. By leveraging its extensive network of gas stations, Petrolimex can tap into the growing convenience store market without significant capital expenditure, potentially increasing customer loyalty and average transaction value. For Ohmee, the deal provides rapid access to high-traffic locations across Vietnam, bypassing the challenges of securing prime real estate. This collaboration could set a precedent for other foreign retailers seeking to enter Vietnam through partnerships with established local players.

What to Watch

• Expansion of Ohmee Express stores to other Petrolimex gas stations beyond Hanoi, indicating the success of the pilot.
• Quarterly revenue reports from Petrolimex to assess the contribution of non-fuel retail to overall performance.
• Official announcements from Oh!Some regarding its operations in Vietnam, which could signal market consolidation or exit.
• Regulatory developments in Vietnam’s retail sector, particularly regarding foreign investment and land use for gas station retail.
• Consumer response metrics, such as foot traffic and sales per store, if disclosed by Petrolimex or Ohmee.