Vietnam: Compulsory petrol and oil reserves shall apply from November 01, 2014 through 2025

10:27, 07/09/2014

This is an important content of Decree No. 83/2014/NĐ-CP of Vietnam’s Government on petrol and oil trading.

According to Decree No. 83/2014/NĐ-CP of Vietnam’s Government, compulsory petrol and oil reserves are specified as follows:

du tru xang dau, nghi dinh 83/2014/NĐ-CP

- From November 01, 2014 through 2025, petrol and oil importers and exports shall maintain a stable compulsory petrol and oil reserve level equal to at least thirty (30) days’ supply volume counted based on the average domestic consumption volume per day in the preceding year (with the same structure of categories), including national energy security reserve and compulsory circulation reserve.

- From November 01, 2014 through 2025, petrol and oil producers having distributions systems on the domestic market shall maintain a stable compulsory petrol and oil reserve level equal to at least thirty (30) days’ supply volume counted based on the average domestic consumption volume per day in the preceding year (with the same structure of categories), including national energy security reserve and compulsory circulation reserve.

- After 2025, traders mentioned above shall maintain a compulsory minimum petrol and oil reserve level prescribed by the Prime Minister.

View full text at Decree No. 83/2014/NĐ-CP of Vietnam’s Government, effective from November 01, 2014.

Thu Ba

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