Allocating 28.42 million m3/ton of gasoline and oil for 2024

On the afternoon of January 3 in Hanoi, Minister of Industry and Trade Nguyen Hong Dien chaired a meeting with member units and enterprises producing, trading, and importing petroleum... to discuss specific solutions to ensure supply and stabilize the petroleum market during the Lunar New Year as well as the whole year 2024.

According to a report from the Director of the Domestic Market Department (Ministry of Industry and Trade) Phan Van Chinh, in 2023, the total volume of all types of gasoline and oil, including imports, purchases from domestic production sources and blending, is estimated at about 26.02 million ^m3 /ton. Of which, the estimated import volume for the whole year of 2023 is about 10.2 million ^m3 /ton.

Minister Nguyen Hong Dien chaired the meeting.

Entering 2024, based on the total registered capacity of petroleum traders as well as the ability to import, blend, and purchase from domestic production sources of enterprises, the Ministry of Industry and Trade has balanced and calculated the allocation of the total minimum petroleum source for the whole year of 2024 to be nearly 28.42 million ^m3 /ton.

Thus, the total amount of gasoline supplied to the market in 2024 will be about 2.4 million m3/ton higher than last year.

Delegates attending the meeting. Photo provided by the Office of the Ministry of Industry and Trade

Reviewing the situation of petroleum supply in 2023, Minister Nguyen Hong Dien said that some key enterprises have not strictly complied with the plan to allocate the minimum total source as well as the operating conditions of a key enterprise, such as: warehouses, yards, minimum commercial reserves, compliance with tax obligations, management and use of the price stabilization fund, etc.

Minister Nguyen Hong Dien directs petroleum supply tasks in 2024

The leaders of the Ministry of Industry and Trade requested that in 2024, key enterprises, distributors, and retail stores trading in petroleum must strictly implement the instructions of the Government and the Prime Minister, including regulations on applying management software to ensure objectivity, transparency, and issuing electronic invoices in petroleum trading according to the instructions of the Ministry of Finance.

In addition, businesses must strictly implement the total minimum allocated petroleum resources, with implementation plans by month and quarter, not by year as before.

The Minister of Industry and Trade also requested that competent authorities regularly inspect and examine to promptly detect and strictly handle violations in the trading and supply of gasoline.

VAN PHUC

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