(Photo: VGP)

According to Trinh Quang Khanh, Vice Chairman of the Vietnam Petroleum Association, the domestic supply of petroleum products is currently being maintained. Dung Quat Oil Refinery has secured crude oil sufficient for production until the end of April, and refined petroleum products until May.

Meanwhile, the Nghi Son Refinery and Petrochemical Complex, which supplies about 70% of domestic petroleum consumption, is working to diversify its sources of crude feedstock.

Mr. Khanh said, “At present, businesses, retail outlets, and key suppliers have ensured sufficient fuel supplies. With 17,000 petrol stations nationwide, suppliers and distributors continue to provide adequate fuel for sale throughout the system.”

The complex developments of military conflict in the Middle East are exerting strong pressure on global energy markets, pushing up crude oil and fuel prices in many countries.

In this context, Vietnam is taking a range of measures to ensure petroleum supply, stabilise the domestic market and maintain national energy security. The Government’s Energy Security Task Force, together with the Ministry of Industry and Trade, has called for more efficient energy use, while encouraging the use of public transport, electric vehicles and biofuels to reduce dependence on fossil fuels.

Communication efforts are also being strengthened to help the public remain calm amid market fluctuations and avoid unnecessary fuel hoarding, thereby helping maintain market stability.