A series of oil giants show signs of violations, the Ministry of Industry and Trade sets up an inspection team

Ms. Nguyen Thuy Hien - Deputy Director of the Domestic Market Department (Ministry of Industry and Trade) said that in the first half of the year, implementing the regulations on state management of petroleum trading, the Ministry of Industry and Trade issued a Decision to inspect the maintenance of petroleum trading conditions of 6 wholesale traders and 8 distributors. This inspection is in the process of implementation.

In addition, through reviewing the report on maintaining business conditions, the Ministry of Industry and Trade has directed the General Department of Market Management to inspect 4 main traders and 20 distributors with signs of violations for consideration and handling according to regulations.

"Regarding the compliance with legal regulations of petroleum traders, there are still some traders who have not proactively reported, so the Ministry of Industry and Trade must remind them," the leader of the Domestic Market Department added.

In 2024, the total minimum source in 2024 that the Ministry of Industry and Trade will assign to key petroleum traders (36 traders) is a total of more than 28 million m3/ton of various types of petroleum.

In the first 6 months of 2024, according to reports from 2 factories and the General Department of Customs, the total source of production and import of gasoline and oil in the first 6 months of 2024 reached 12.41 million tons, equivalent to about 15.2 million m3/ton of gasoline and oil of all kinds, of which: imports accounted for 44.5%, domestic production accounted for 55.5%.

Consumption in the first 6 months of this year was about 13.2 million m3/ton. Inventory as of June 30 was about 1.85 million m3/ton, equivalent to the first 6 months of 2023.

Forecast of domestic petroleum supply in the last 6 months of this year, total production and import sources are about 12.76 million tons, equivalent to about 15.3 million m3/ton. Total production and import sources in the last 6 months of 2024 (according to traders' reports) are estimated at about 13.3 million m3/ton of all kinds of petroleum.

Estimated consumption in the last 6 months of this year is about 13.2 million m3/ton (average about 2.2 million m3/ton/month). Inventory is from 1.8-2 million tons. According to calculations, the supply of gasoline and oil will be enough to meet the needs of people and production enterprises.