According to Ms. Nguyen Thuy Hien - Deputy Director of the Domestic Market Department (Ministry of Industry and Trade), in the first half of the year, implementing state management regulations in petroleum trading, the ministry issued a decision to inspect the maintenance of petroleum trading conditions of 6 wholesale traders and 8 distributors, and is in the process of implementation.

Inspect dozens of petroleum businesses

In addition, through reviewing the report on maintaining business conditions, the Ministry has directed the General Department of Market Management to inspect 4 key traders and 20 distributors with signs of violations for consideration and handling according to regulations.

Ms. Hien affirmed that according to the regulations on state management in petroleum business, every year the ministry regularly plans to inspect the maintenance of business conditions of petroleum traders.

"All major traders and petroleum distributors, whether large or small, will have an inspection plan. This inspection is not related to and does not affect the total domestic petroleum source," Ms. Hien emphasized.

Assessing compliance with legal regulations, the Ministry of Industry and Trade said that in the first 6 months of the year, traders basically complied with legal regulations on petroleum trading.

Reports related to distribution, production, export, import, inventory, price stabilization fund, selling price declaration... are made according to the requirements of the Ministry of Industry and Trade.

However, there are still some traders who have not proactively reported, so the ministry has to remind them.

In 2024, the total minimum petroleum source in 2024 that the Ministry of Industry and Trade will assign to key petroleum traders (36 traders) to implement is a total of 28.4 million ^m3 /ton of all types of petroleum.

In the first 6 months of 2024, according to reports from two refineries and the General Department of Customs, the total source of petroleum production and import reached 12.41 million tons, equivalent to about 15.2 million ^m3 /ton of petroleum of all kinds. Of which, imports accounted for 44.5%, domestic production accounted for 55.5%.

Total source is still guaranteed

According to information from key petroleum traders, the total source of imports and domestic purchases in the first 6 months of 2024 reached 13.8 million ^m3 /ton of all types of petroleum, equal to 48% of the total minimum source assigned by the Ministry of Industry and Trade.

This level decreased by 0.28% compared to the first 6 months of 2023 (the first 6 months of 2023 reached 14.2 million ^m3 /ton of all kinds of gasoline and oil).

Consumption in the first 6 months of 2024 is about 13.2 million ^m3 tons. Inventory as of June 30 is about 1.85 million ^m3 /ton, equivalent to the first 6 months of 2023.

The Ministry of Industry and Trade forecasts that the domestic gasoline supply in the last 6 months of 2024, the total production and import source will be about 12.76 million tons, equivalent to about 15.3 million ^m3 /ton.

Total production and import sources in the last 6 months of 2024 (according to traders' reports) are estimated at about 13.3 million ^m3 /ton of all kinds of gasoline and oil.

Estimated consumption in the last 6 months of 2024 is about 13.2 million ^m3 /ton (average of nearly 2.2 million ^m3 /ton/month). Inventory from 1.8 - 2 million tons.

Thus, the supply of gasoline will be sufficient to meet the needs of people and manufacturing enterprises.