Reserve of Raw Materials for Petroleum Production Lower Than Regulation: How Much is the Fine?

Pursuant to Clause 1, Article 30 of Decree 99/2020/ND-CP, the following provisions are stipulated:

Fines ranging from 100,000,000 VND to 120,000,000 VND shall be imposed on traders producing gasoline who do not maintain the minimum reserve level of gasoline production materials as prescribed, or maintain a reserve level lower than the minimum level as stipulated.

Additionally, according to Article 5 of this Decree, it is stipulated: The fine levels specified in Chapters II, III, and IV of this Decree are applied to organizations. In case the administrative violation is committed by an individual, the fine shall be half of the fine level applicable to organizations.

Article 30 falls under Chapter III, therefore, the above fine is applicable to organizations.

Thus, traders (organizations) producing gasoline who maintain a reserve level of gasoline production materials lower than the stipulated minimum level shall be fined from 100,000,000 to 120,000,000 VND.

Respectfully!