SK Energy trims stake at Petrovietnam arm PVOIL, no longer major shareholder
SK Energy, under South Korean conglomerate SK Group, is no longer a major shareholder of PetroVietnam Oil Corporation (PVOIL, UpCoM: OIL) after divesting 10.8 million shares.
The sale reduced SK Energy’s ownership to 43.3 million shares, or a 4.19% stake of PVOIL, down from 54.1 million shares (5.23%), the company said on Thursday.
Logo of SK Group. Photo courtesy of the company.
Based on OIL’s closing price of VND11,800 on August 22, the transaction was worth around VND127 billion ($4.8 million).
SK Energy, a leading South Korean oil refiner with operations spanning petroleum, petrochemicals, and renewables, has been scaling back its Vietnam exposure after years of strategic investments in local firms. The company became PV Oil’s second-largest shareholder in November 2018 when it lifted its stake to 5.23%.
Petrovietnam, PV Oil’s parent, remains the controlling shareholder with an 80.52% stake.
In the first half of 2025, PV Oil reported revenue of VND72.7 trillion ($2.76 billion), up 13% year-on-year, while net profit slid 33% to VND232 billion ($8.8 million).
Recently, SK Investment Vina II Pte. Ltd, a member fund of SK Group, has fully divested its entire 6.05% stake from Vietnam’s top private conglomerate Vingroup (HoSE: VIC) as part of a broader restructuring effort and to strengthen its core businesses.
Last November, SK Group offloaded 76 million shares of Masan (HoSE: MSN) to a number of unidentified investors but retained the remaining 55 million shares. The sale trimmed its ownership to 3.67% and no longer making SK a major shareholder.
OIL shares closed up 2.54% to VND12,100 ($0.46) each on Friday.
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