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Friday, June 14, 2024

Authorities impose fines on gas trading irregularities

The Saigon Times

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HCMC – Market management authorities have found 144 violations in petroleum business operations this year, with administrative fines amounting to VND3.5 billion.

Inspections were carried out in response to the prime minister’s directive to ensure adequate fuel supply for production, business and consumer needs and enforce electronic invoice regulations in business transactions and fuel trading, said the General Department of Market Surveillance.

The most common irregularities include failure to register distribution systems with the appropriate agency, trading petroleum products with unregistered entities, and signing petroleum agent contracts with traders acting on behalf of multiple principal traders or distributors.

Market management authorities have uncovered gas stations selling fuels that do not meet technical standards or operating at locations not corresponding to their registered addresses.

The Ministry of Trade and Industry has instructed the local market management forces to continue conducting inspections to ensure oil traders comply with business regulations, including the enforcement of electronic invoice regulations for each transaction.

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