At the meeting on the implementation of total petroleum resources organized by the Ministry of Industry and Trade, a number of key petroleum traders proposed to adjust down the total petroleum resources allocated for the whole year 2024.
The reason given was that many businesses suffered damage after the storm, some businesses suffered losses because in recent months, gasoline prices have dropped sharply, while businesses' reserves must last for 20 days, making balancing difficult.
Therefore, 16 petroleum distribution enterprises have requested to return their licenses since the beginning of the year and it is predicted that this wave will not stop.
Mr. Giang Chan Tay - Director of Boi Ngoc One Member Co., Ltd. (Tra Vinh) said that petroleum businesses, including distribution and retail, are always in a state of unstable operations, losses and financial difficulties due to frequent zero-dong discounts.
Decree 95 and Circular 104 of the Ministry of Finance have stipulated the standard business costs in the basic price of petroleum facilities, including both wholesale and retail. However, according to Mr. Tay, in reality, the distribution channels are not in accordance with regulations, and retail businesses are still being oppressed.
"Retail businesses receiving a zero-dong discount means they are not getting any share. So where is this standard cost and who has enjoyed all of it? Over the past two years, petrol businesses have had to pay for electricity, water, salaries, losses, repairs, interest...", Mr. Tay said.
Regarding the adjustment to reduce imports, Mr. Phan Van Chinh - Director of the Domestic Market Department (Ministry of Industry and Trade) assessed that from now until the end of the year, the petroleum market situation will still be complicated. Besides, the weather situation will also have unpredictable developments, storms and floods may occur.
Therefore, the Ministry of Industry and Trade will carefully consider the issue of requesting a reduction in the total allocated resources of enterprises.
"Ministry of Industry and Trade will seriously accept and carefully study the proposals of enterprises so that in any context, we can still achieve the highest goal of ensuring sufficient supply of gasoline for domestic use," Mr. Phan Van Chinh emphasized.
Regarding the supply of gasoline and oil in the last 4 months of the year, the leader of the Domestic Market Department informed: it is expected that the two factories will produce about 6.6 million m3/ton of gasoline and oil of all kinds; import about 3.6 million m3/ton. The total production and import source is about 10.2 million m3/ton of gasoline and oil of all kinds.
Meanwhile, estimated consumption in the last 4 months of the year is about more than 8 million m3/ton (average about more than 2 million m3/ton/month). Inventory is from 1.8-2 million tons.
"If there are no unexpected factors, the supply of gasoline and oil in 2024 will be enough to meet the demand for production, business and consumption of people," affirmed Ms. Nguyen Thuy Hien - Deputy Director of the Domestic Market Department.
