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Sunday, June 16, 2024

Multiple fuel trading firms lose business licenses

By Truc Dao

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HCMC – The Ministry of Industry and Trade has revoked the fuel distribution licenses of five businesses in Hanoi, HCMC, Nam Dinh, Haiphong, and Quang Nam provinces.

The affected firms are Truc Ninh Business Petroleum Co., Ltd in Nam Dinh Province, Ngoc Khanh Trading and Transport Services JSC in Quang Nam Province, Petrolink Commercial and Supply Chain Co., Ltd in Hanoi, Minh Phat Petroleum Transportation and Trading in HCMC, and Duc Hanh Co., Ltd in Haiphong City.

Local governments nationwide have intensified efforts to inspect, monitor, and uncover numerous instances of misconduct in fuel trading.

The market management team in Phu Tho Province imposed fines totaling VND120 million on two local enterprises on May 24 for infractions related to their business operations and retailing of petroleum products. Similarly, a private enterprise trading in petroleum products in Bac Lieu was recently fined VND15 million.

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