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In a strategic move to bolster its ethanol production capabilities, Petrovietnam has engaged in discussions with leaders from FS regarding a potential partnership focused on production and distribution. This initiative comes as Vietnam prepares to implement a new E10 blending mandate, which necessitates a shift toward greater domestic fuel sources.

Following a troubled history, the Dung Quat bioethanol plant has been revitalized, now operating at a significant capacity of 100 million liters per year. Notably, this facility, backed by substantial government funding, had previously been criticized as a white elephant due to its underperformance.

The E10 mandate is expected to primarily benefit from domestic output, but it will also necessitate an increase in imports to meet national demands. In a landmark achievement, Petrovietnam has also ventured into the sustainable energy sector with the production of the country’s first sustainable aviation fuel. This dual focus on ethanol and sustainable aviation fuel not only positions Petrovietnam as a key player in Vietnam's energy landscape but also reflects the government's commitment to advancing renewable energy initiatives amid evolving market dynamics.