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Subscribe to
The Saigon Times

Saigon Times Group is a leading Vietnamese media organization with prestigious business and consumer publications. After three decades of development, we have built a good reputation through our publications on economy, business and markets for Vietnamese and foreign readers.

Basic

Free

  • Free access to daily domestic news, podcasts and videos

Premium

$5 $1 /month
(VND 23,900)
Monthly Annual

  • Unlimited access to domestic news, podcasts, videos and magazine articles on current social / economic / trade / investment issues, commodity / financial/securities markets, M&A activity, FDI, local and foreign business communities and more.

AUTOMATIC RENEWAL REMINDER

  • Your payment method will then be automatically charged ₫ 899.000 every 365 days thereafter.
  • Your subscription will continue until you cancel.
  • You can cancel by using My account. Under My account, select "Unsubscribe" and then follow the instructions to cancel.
  • You can notify us of your intent to cancel at any time during your billing period. Cancellations take effect at the end of your current billing period.
28.9 C
Ho Chi Minh City
Wednesday, April 2, 2025

Oil and petroleum products imports in Feb three times higher than ordinary months

By Le Hoang

Must read

HCMC – Vietnam imported 1.45 million cubic meters of oil and petrolem products in February, three times higher than the ordinary months amid global oil market uncertainties, according to the Ministry of Industry and Trade.

The ministry said the surging imports helped ensure a sufficient supply of oil and petrolem products in the first quarter of 2022.

The ongoing Russia-Ukraine military conflict, supply chain disruptions caused by the Covid-19 pandemic and increasing demand for fuels among countries to boost economic recovery have led to oil prices surging.

In late January, the Ministry of Industry and Trade asked fuel traders to take immediate action to replenish fuel stockpiles, especially at a time when domestic fuel production is falling.

The ministry also assigned 10 wholesale fuel firms to import 2.4 million cubic meters of petrol and oil in the second quarter of 2022 to secure supply in the local market.

Traders must ensure that the fuel they import is not lower than the assigned volume, comply with regulations on fuel trading and furnish their invoices and import-export receipts.

In addition, fuel importers have been directed to report their import procedures to the ministry before the 20th of each month.

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