MoIT Imposes Fuel Import Quotas to 13 Firms

The Ministry of Industry and Trade (MoIT) has allocated the fuel import quotas to 13 major petrol distributors.

 

These distributors are allowed to import a total quantity of 10.1 million cu meters of fuel for this year with 3.48 million cu. meters of gasoline; 5.52 million cu. meters of diesel; 1 million tones of fuel oil; 12,000 cu. meters of kerosene and 300,000 cu. meters of aviation fuel.

 

Viet Nam National Petroleum Group or Petrolimex is a major importer and was allocated the biggest quota with 5.84 million cu. metres. PV Oil followed with 1.26 million cu. metres and Petect Trading and Investment Corporation with 503,000 cu. metres.

 

The ministry also requested these distributors look closely at the supply of local Dung Quất Oil Refinery to set up their specific import plans in order to ensure sufficient fuel in the domestic market and have a reserve petrol equivalent to at least 30 days of supply.

 

They are not allowed to import below the allocated quotas.

 

The Ministry of Finance (MoF) allowed petrol dealers to use sources from the fuel stabilization fund to offset their losses incurred by a fluctuation of the global oil prices.