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Thursday, December 1, 2022

Govt to inspect fuel traders, refineries after retail market turbulence

The Saigon Times

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HCMC – The Government Inspectorate has decided to launch inspections of 15 major fuel trading companies and two oil refineries following the recent fuel retail market chaos in multiple southern provinces, the local media reported.

The inspections will look into compliance with laws and regulations on fuel trading and the prime minister’s Official Dispatch 160 of February 22 on measures for ensuring sufficient fuel supply for the domestic market.

The Government Inspectorate’s inspection decision comes after multiple fuel retail businesses closed their gas stations in southern cities and provinces, especially HCMC, An Giang and Binh Phuoc, citing supply shortages, rising operating costs and losses, even though there were no global supply disruptions.

The inspections, which last 60 working days from the date of the inspection decision being announced (October 13), will delve into the operations of the 17 entities from January 1, 2017 to June 30, 2022.

The 17 entities subject to the inspections are:

  1. Vietnam National Petroleum Group (Petrolimex)
  2. Hai Ha Waterway Transport Company Limited
  3. Military Petrochemical Joint Stock Company (MIPEC)
  4. Hai Linh Co. Ltd.
  5. Military Petroleum One Member Limited Liability Corporation
  6. Petro Binh Minh Company Limited
  7. Thien Minh Duc Group Joint Stock Company
  8. Hoa Khanh Trades & Services Co. Ltd
  9. PV Oil
  10. Xuyen Viet Oil Travel and Transport Trading Company Limited
  11. Thanh Le Corporation
  12. Dongthap Petroleum Trading Import Export JSC (PETIMEX)
  13. Nam Song Hau Trading Investing Petroleum Joint Stock Company (NSHPETRO)
  14. Long Hung Trading and Service Company Limited
  15. Tin Nghia Petroleum Import Export Joint-Stock Company
  16. Binh Son Refining and Petrochemical Joint Stock Company (Dung Quat oil refinery)
  17. Nghi Son Refinery and Petrochemical Limited Liability Company (Nghi Son oil refinery)

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