On October 24, 2022, the Ministry of Industry and Trade held a meeting with the Vietnam Petroleum Association and 31 petroleum trading centers to assess the implementation of the total source and the minimum import limit of petroleum for 9 months to 2022 and the distribution of petroleum resources in the fourth quarter of 2022 .

According to the report of the Domestic Market Department (Ministry of Industry and Commerce), the minimum total source of gasoline and oil in 2022 allocated by the Ministry of Industry and Commerce to 36 major traders is 20,722,039 m3.

To make up for the shortage of domestic production, the Ministry of Industry and Trade issued Decision No. 242/QD-BCT on February 24, 2022, specifying an increase in the amount of imported gasoline and oil in the second quarter of 2022. Accordingly, 10 mineral oil dealers were commissioned to import a further 2.4 million m3 of petrol.

According to a summary report of major petroleum traders, the total source of terrestrial petroleum (gasoline, diesel, kerosene, heating oil) reached about 17,238,335 m3/ton in the first nine months of 2022.

Thus, by the end of Q3 2022, the major traders have completed approximately 83% of the minimum overall source plan in 2022. If the additional import volume is included in decision 242, this figure is 75%.

For the main products gasoline and diesel, Tran Duy Dong, director of the Domestic Market Department (Ministry of Industry and Trade), said some traders were putting the total well close to or even exceeding the minimum allotted total well.

Specifically, the Vietnam National Petroleum Group scored 99.6% for gasoline and 95.9% for diesel; Vietnam Oil Corporation – JSC scored 100.3% for gasoline and 83.4% for diesel; City Petroleum Company Limited. Ho Chi Minh City scored 93.2% for gasoline and 167.0% for diesel; Dong Thap Petroleum Trading Joint Stock Company scored 96.2% for gasoline and 74.9% for diesel; Thanh Le Import-Export Trading Corporation – JSC scored 119.0% for gasoline and 119.4% for diesel; Military Petroleum Corporation, a limited liability company, achieved 123.5 percent for gasoline and 127.8 percent for diesel…

However, there are still some traders who trade as Hung Phat Production – Trading Co., Ltd. have not implemented the minimum total resources allocated; Saigon Trading Corporation – limited to one member; Phuc Lam Fuel Joint Stock Company (diesel products); Jiang Nam Petroleum Company Limited; Trung Linh Phat Company Limited (gasoline products); Phuc Loc Ninh Public Company.

In order to ensure the supply of gasoline and oil to meet market demand in the coming period, the Ministry of Industry and Trade plans to allocate the minimum quantity of petroleum wells (including imports, purchases from domestic refineries and own production) for gasoline and oil wholesalers in the fourth quarter 2022 is 5.5 million m3/ton; average 1,833,333 m3/ton/month. The amount of gasoline is 2,248,066 m3 (average 749,355 m3/month); diesel 3,133,149 m3 (average 1,044,383 m3/month); Mazut 110,497 tons (average 36,832 tons/month); Kerosene 8,287 m3 (average 2,762 m3/month).

Allocation is based on the share of total resources allocated to major petroleum traders in early 2022 and has a list of a certain number of limits for each major trader.