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Tuesday, June 18, 2024

Ministry of Industry and Trade halts sanctions on five fuel suppliers

By T.H

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HCMC – Amid the severe fuel disruption, the inspectors of the Ministry of Industry and Trade decided to delay sanctions on five fuel wholesalers to ensure a sufficient fuel supply to the market.

As announced earlier, five major fuel distributors in South Vietnam will be subject to confiscation of their operating licenses as a punitive action against the wrongdoing.

The five companies comprise Dong Thap Petroleum Trading Import Export JSC, Tin Nghia Petroleum Import Export JSC, Saigon Petro, Hung Hau Petroleum Company and Orient Oil.

Following deliberations on the serious fuel shortage in the country, the inspectors of the ministry have decided to halt sanctions on the five companies.

However, the aforementioned companies will comply with paying penalties in accordance with administrative sanctions.

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