Accordingly, in Decision No. 1891/QD-BCT dated July 17, 2024 on revoking the Certificate of eligibility to act as a petroleum distributor , the Ministry of Industry and Trade decided to revoke the Certificate of eligibility to act as a trader. Petroleum distributor with Cuu Long Fuel Trading Joint Stock Company, address 85 Hai Ba Trung, Ben Nghe Ward, District 1, Ho Chi Minh City.
Previously, this enterprise was granted a Certificate of eligibility to act as a petroleum distributor No. 415-TNPP/QD-BCT issued by the Ministry of Industry and Trade on April 13, 2021.
In Decision No. 1892/QD-BCT dated July 17, 2024, the Ministry of Industry and Trade decided to revoke the Certificate of eligibility to act as a petroleum distributor with Viet Nhat Petroleum Development Investment Company Limited, commune address. Ninh Tien, Ninh Binh City, Ninh Binh Province.
Previously, this Company was granted a Certificate of eligibility to act as a petroleum distributor No. 382-TNPP/QD-BCT issued by the Ministry of Industry and Trade on December 25, 2020.
According to the Department of Domestic Market - Ministry of Industry and Trade, implementing state management in the field of petroleum business, recently, the Ministry of Industry and Trade has asked key traders and distributors to report on Maintain conditions to act as a wholesaler and distributor of petroleum according to regulations.
Through reports and reviews, many distributors have not been able to maintain the conditions to act as petroleum distributors according to regulations, and the traders have proactively returned the Certificates. However, the Ministry of Industry and Trade affirmed that the return of licenses by businesses does not affect petroleum business activities.
Regarding supply, to ensure the supply of petroleum, the Ministry of Industry and Trade has assigned the minimum total source (including import and domestic purchase of petroleum) to key petroleum businesses. From the beginning of the year until now, basically, the petroleum trading hubs have strictly implemented the total minimum allocated source of petroleum supply to basically meet the demand.
The total source of imports and domestic purchases of petroleum is estimated to be about 6.35 million m3/ton of petroleum of all kinds in the second quarter of 2024. Estimated consumption in the second quarter of 2024 is about 6.3 million m3/ton. Petroleum inventories are about 1.7 - 1.8 million m3/ton, basically ensuring enough demand for consumption and production and business.
