Decision No. 215/2006/QĐ-TTg transforms the Oil and Gas Trading Company under the Vietnam Oil and Gas Corporation into a limited liability company with one member.

DECISION

Transfer the Oil and Gas Trading Company under the Vietnam Oil and Gas Corporation to become a limited liability company with one member.

to establish a joint stock company with a single member

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PRIME MINISTER

Pursuant to the Law on Organization of the Government dated December 25, 2001;

Pursuant to the State Enterprise Law dated November 26, 2003;

Pursuant to the Enterprise Law dated November 29, 2005;

Pursuant to the Government Decree No. 95/2006/NĐ-CP dated September 8, 2006 on the conversion of state-owned companies into limited liability companies with one member;

Considering the proposal of the Board of Directors of the Vietnam Oil and Gas Corporation,

DECISION:

Article 1. Transfer the Oil and Gas Trading Company, an independent accounting unit under the Vietnam Oil and Gas Corporation, to become the Oil and Gas Trading Limited Liability Company with One Member.

The Oil and Gas Trading Limited Liability Company with One Member shall have its own seal, be entitled to open accounts at domestic and foreign banks in accordance with the law, and operate in accordance with the Company's Articles of Association and the Enterprise Law.

- Full name: Oil and Gas Trading Limited Liability Company with One Member.

- Trade name: Oil and Gas Trading Company.

- International trade name: PetroVietnam Trading Company Limited.

- Abbreviation: Petechim Co., Ltd.

- Registered capital: 333,000,000,000 VND (three hundred thirty-three billion VND).

- Main office address: No. 70A Ba Huynh Thanh Quan Street, District 3, Ho Chi Minh City.

Article 2. Business scope of the company: import and export of crude oil and petroleum products; import and export of materials and equipment for the oil and gas industry and domestic needs; trading of oil outside the country; transportation and agency services for crude oil; commercial services for oil contractors; commercial, investment advisory services, and other business activities as prescribed by law.

Article 3. Organization and operation:

1. Management structure of the Company follows the model: Board of Members, General Director, and Supervisor.

2. The organization and operation of the Company are specifically regulated in the Company's Articles of Association.

Article 4. The State Council authorized to represent the owner is the Board of Directors of the Vietnam Oil and Gas Corporation.

Address: No. 22 Ngo Quyen Street, Hoan Kiem District, Hanoi City.

The Board of Directors of the Vietnam Oil and Gas Corporation is responsible for exercising the rights of the owner representative over the Oil and Gas Trading Limited Liability Company with One Member in accordance with current regulations and the Company's Articles of Association.

Article 5. The Oil and Gas Trading Limited Liability Company with One Member is responsible for receiving and effectively utilizing the capital and assets transferred by the Board of Directors of the Vietnam Oil and Gas Corporation to fulfill production and business development tasks; inheriting all legitimate rights, obligations, and benefits of the Oil and Gas Trading Company.

Article 6. The Board of Members of the Oil and Gas Trading Limited Liability Company with One Member is responsible for drafting the Company's Articles of Association and submitting them to the Board of Directors of the Vietnam Oil and Gas Corporation for approval.

Article 7. This Decision takes effect fifteen days after its publication in the Official Gazette.

The Board of Directors of the Vietnam Oil and Gas Corporation, the Director of the Oil and Gas Trading Company, and the Board of Members of the Oil and Gas Trading Limited Liability Company with One Member are responsible for implementing this Decision./.