VOV.VN - The Ministry of Industry and Trade (MoIT) has affirmed that domestic fuel supply remains stable thanks to steady production from the country’s two major refineries and continued imports amid rising tensions in the Middle East.

VOV.VN - Amid escalating tensions in the Middle East that threaten global oil flows and push energy prices higher, Vietnam has proactively developed contingency scenarios to safeguard domestic fuel supply and maintain market stability.

Vietnam must invest to raise its fuel reserve capacity, said economists and policymakers during a conference on April 12 discussing how to encourage investment from the private sector in fuel infrastructure and to stabilise fuel supply and demand.

The Ministry of Industry and Trade (MoIT) will instruct enterprises to work to ensure domestic oil and gas supply in the second quarter of this year, Deputy Minister Do Thang Hai has said.

The State Bank of Vietnam (SBV) has issued Document No 1509, asking commercial banks to raise credit limits for a number of fuel firms, particularly those who import extra fuel at the request of the Ministry of Industry and Trade (MoIT).

VOV.VN - Vietnam will build another oil refinery, the third of its kind, to ensure a sufficient supply of petroleum products for local consumption, said Deputy Prime Minister Le Van Thanh.

VOV.VN - Trade Minister Nguyen Hong Dien on March 16 played down legislators’ worries about petroleum supply disruption due to global price volatility, saying Vietnam has a sufficient supply of petroleum products for local consumption.

VOV.VN - A representative of the Ministry of Industry and Trade (MoIT) has confirmed that Vietnam has a sufficient supply of fuel for local use and offers solutions if a shortage occurs in the market.