Further implementation of solutions to ensure the supply of petroleum for production, business, and consumption in Vietnam

Further implementation of solutions to ensure the supply of petroleum for production, business, and consumption in Vietnam

The Prime Minister of Vietnam requests the Minister of the Ministry of Industry and Trade of Vietnam to direct key petroleum trading entities to proactively secure their sources, ensuring sufficient petroleum are supplied to their systems. Absolutely no interruptions in the petroleum supply within their distribution networks (from sources, distributors, agents, to retail stores) should occur. Maintain regular sales activities and adhere to listed prices; strictly implement the minimum petroleum supply for 2024 as allocated and comply with storage regulations.

Closely monitor the execution of the minimum supply targets set for key trading entities, especially those with low compliance rates; direct and guide the regulation to ensure a balanced petroleum supply-demand equation in each area.

Proactively develop the petroleum supply plan for 2025 and subsequent years; absolutely avoid any shortage or supply disruption as experienced in 2022. Be accountable to the Government of Vietnam, the Prime Minister of the Government of Vietnam, and the People for any petroleum supply shortages or disruptions affecting the domestic market.

Regularly monitor market developments both domestic and international, as well as the situation regarding natural disasters, storms, and floods to have contingency plans ensuring adequate petroleum supply for the domestic market under all circumstances.

Proactively collaborate closely with relevant Ministries and agencies in state management activities pertaining to petroleum, and in petroleum price regulation. Enhance inspections, examinations, and supervision of petroleum trading activities; promptly detect and strictly handle violations in accordance with regulations.

Continue to lead, in collaboration with relevant Ministries and agencies, to thoroughly and urgently review and finalize the draft Decree replacing the existing Decrees on petroleum trading as directed by the Government of Vietnam and its leaders. Ensure the draft is scientific, feasible, effective, meets practical requirements, and aligns with state management requirements for petroleum, balancing the interests of the state, the people, and businesses; report to the Government of Vietnam within September 2024.

More details can be found in Official Telegram 99/CD-TTg issued on September 23, 2024.

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