Petrolimex targets nearly 19.443 million tonnes of fuel sales in 2026, with revenue of 315 trillion VND, still behind Vingroup's 450 trillion VND plan

For many years, Petrolimex (PLX) has been among the most dominant fuel retailers on Vietnam’s stock market by revenue. Last year, however, the company was overtaken for the first time by Vingroup, the multi-sector conglomerate led by Pham Nhat Vuong. The revenue gap between the two groups could widen further in 2026.

Petrolimex targets higher fuel volumes and revenue in 2026

In its 2026 annual general meeting materials, Petrolimex plans consolidated fuel sales of about 19.443 million tonnes, up 10% from 2025. Correspondingly, the company sets a revenue target of 315,000 billion dong, up 2% from 2025. If achieved, Petrolimex would record a new revenue peak.

Vingroup’s 2026 revenue goal far exceeds historical benchmarks

Petrolimex’s targets remain well below Vingroup’s. For its 2026 business plan, the Vuong-led group plans to present a revenue target of up to 450,000 billion dong, up 36% from last year. The materials note that, in the history of Vietnam’s stock market, no company has reached this revenue level in a single year. If Vingroup delivers on the plan, it would set an unprecedented record.

Diversified revenue drivers: real estate, electric vehicles and VinFast

Unlike Petrolimex, which focuses primarily on fuels, Vingroup is a diversified conglomerate with income from multiple segments. Real estate is described as the largest revenue source. Revenue from electric vehicles accounts for about 30% and is rising, supported by growing demand.

For 2026, VinFast aims to deliver 300 thousand electric cars and to deliver at least 2.5 times the number of electric motorcycles compared with 2025, with a target of around 1 million vehicles. The plan also links market expansion to strengthening VinFast’s position in Vietnam and expanding further into key international markets.

Electric vehicle growth and gasoline demand

The article notes that the rapid development of electric vehicles in Vietnam in recent years has affected domestic gasoline demand to some extent. Even so, gasoline is still described as indispensable for daily economic activity, and in some sectors it remains an irreplaceable fuel. Petrolimex’s view is that electric vehicles are beginning to have a more tangible impact, but have not yet captured the market, with the number of internal combustion engine vehicles still very large.

Petrolimex’s outlook for production growth and fuel business

Assuming the economy develops in line with government direction, Petrolimex expects production growth of about 8.5% to 10% in 2026-2027. The growth driver is linked to government policy and development direction, including projects to develop new expressways. The company also says economic demand could partly offset the start of vehicle-restriction policies and the rise of electric vehicles.

From 2028-2030, Petrolimex expects production growth to slow to 6% to 7%. At that stage, the impact of electric vehicles, green fuels, and vehicle-restriction policies is expected to become more evident. Based on these assumptions, the projected average annual growth of the group’s gasoline and fuel business in 2026-2030 is around 7%.

Plans remain subject to variables

The article emphasizes that the figures are still “on paper,” and the ability of Petrolimex or Vingroup to fulfill their plans depends on multiple variables. Still, it frames the willingness of leading companies in key sectors to set high—potentially ambitious—targets as a positive signal for the broader economy.