HANOI, Oct. 6 (Xinhua) -- Vietnam's first wholly foreign-owned filling station has become operational in the capital city of Hanoi, its owner said on Friday.
The filling station branded Idemitsu Q8 in Thang Long Industrial Park belongs to Idemitsu Q8 Petroleum LLC, a joint venture between Japan's Idemitsu Kosan, a major shareholder of Vietnam's biggest oil refinery, and Kuwait's Kuwait Petroleum International.
Idemitsu Q8 Petroleum LLC plans to develop filling stations along National Road No. 5 linking Hanoi and northern Hai Phong city.
Vietnamese firm Petrolimex currently dominates the local petrol and oil retail market with a market share of 50 percent, followed by PV Oil, Saigon Petrol and Mipec.
Vietnam imported over 9.7 million tons of oil and petroleum products totaling 5.1 billion U.S. dollars in the first nine months of this year, seeing respective year-on-year surges of 11.4 percent and 42 percent, according to its General Statistics Office.