Ensure goods for the focal point according to the signed contract until March 2026
Military conflict in the Middle East is creating major shocks for the world energy market, leading to the risk of supply disruption and strong fluctuations in gasoline and oil prices.
In that context, the Vietnamese Government has proactively implemented solutions to ensure national energy security. The Prime Minister has issued Decision No. 385/QD-TTg establishing a Task Force to ensure energy security in the face of the complex developments of the conflict in the Middle East; at the same time, the Ministry of Industry and Trade also established a specialized task force to closely monitor the situation and promptly advise on operating solutions.
According to a report by Vietnam Oil and Gas Group (PVN), crude oil production currently reaches about 180,000 barrels/day. Of which, about 150,000 barrels/day are supplied to Dung Quat Oil Refinery.
Regarding production capacity, Dung Quat Oil Refinery can maintain stable operation at a capacity of about 118% at least until the end of April 2026 and ensure gasoline and oil supply according to contracts signed with key traders.
Meanwhile, Nghi Son Refinery and Petrochemical Plant is still maintaining stable operation with raw materials to ensure production plans in the coming time.
Thus, the two large domestic oil refineries, Dung Quat and Nghi Son, are still operating normally, ensuring the supply of gasoline and oil to key traders under signed contracts until the end of March 2026.
In parallel with domestic production sources, key gasoline and oil traders are still continuing to import finished gasoline and oil products to supply to the market, although import and transportation costs tend to increase. Along with the circulating reserves at enterprises according to regulations, the supply of gasoline and oil to the market in March 2026 is basically guaranteed.
However, if the war in the Middle East lasts until April, the market may face more difficulties. Faced with that situation, the Government, the Prime Minister and the Ministry of Industry and Trade and related ministries and sectors are urgently directing the removal of obstacles, creating favorable conditions for gasoline and oil production and import activities, in order to ensure sufficient supply for the market in the following months.
Need the joint efforts of businesses and people
In the context of the world energy market potentially facing many unpredictable fluctuations, maintaining the stability of the domestic gasoline and oil market not only depends on the management measures of management agencies but also requires the companionship of the whole society. Gasoline and oil are strategic commodities, finite resources and play a particularly important role in the operation of the economy. Therefore, each liter of gasoline used economically and effectively is not only of economical significance but also a practical contribution to ensuring national energy security.
The Ministry of Industry and Trade recommends that people actively practice energy saving, prioritize the use of public transport, electric vehicles and biofuels to reduce dependence on mineral gasoline. At the same time, people need to maintain calm psychology in the face of market fluctuations, avoid panic or unnecessary stockpiling of gasoline and oil, thereby contributing to market stability and ensuring supply for the essential needs of the economy.
For gasoline and oil businesses, ensuring a stable supply for the market is an important responsibility. Businesses need to improve business culture, not hoard goods, not sell at a standstill waiting for prices to increase, proactively maintain supply for the distribution system, thereby contributing to maintaining market stability and ensuring production and business activities of the economy.
In times of strong market fluctuations, maintaining smooth supply, even when profits may decrease, also demonstrates social responsibility and the spirit of accompanying the country of the business community. When the State, businesses and people share responsibility, use energy economically and efficiently, the domestic gasoline and oil market will continue to be maintained stable, contributing to ensuring energy security and supporting sustainable socio-economic development.
