Vietnamese conglomerate Vingroup, the country’s largest conglomerate and parent of VinFast, has established a new subsidiary, Vin Oil&Gas Global, to conduct petroleum and gas trading activities with a charter capital of VND10 trillion ($38.5 million).
In a filing submitted to stock market regulators on September 25, Vingroup said it would hold a 51% stake in the new entity, representing a contribution of VND510 billion ($19.6 million). Vin Oil&Gas Global is headquartered at a Vingroup office in Hanoi.
The company marks Vingroup’s second move into the energy sector as global energy markets continue to experience volatility. Vingroup has not disclosed additional information about the new subsidiary’s planned operations, products or projects.
Vingroup previously expanded into energy through renewable energy developer VinEnergo. One of its major projects is the 4,800-MW Hai Phong LNG-to-power plant in Vietnam’s northern coastal city of Hai Phong. The project, which is currently under construction, carries an estimated investment of VND178 trillion ($6.8 billion).
Vingroup reports strong first-half growth
During the first half of 2026, Vingroup recorded revenue of approximately VND222.3 trillion ($8.6 billion), representing a 72.5% increase from the same period a year earlier.
The conglomerate’s net profit reached VND20.4 trillion ($784 million), marking a 4.5-fold increase compared with its 2025 result.
