Ensure gasoline and oil supply according to signed contracts
According to a report by Vietnam National Petroleum Group (PetroVietnam), 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 material sources 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.
Petrovietnam said that it has directed Nghi Son Refinery and Petrochemical Company to work with foreign parties participating in the project to urgently supply reserve oil and maintain operating capacity. At the same time, the group works with oil owners to maximize the sale of domestically exploited oil to domestic oil refineries in case of emergency.
According to representatives of Vietnam National Petroleum Group (Petrolimex), as of the beginning of March 2026, the inventory of the entire Petrolimex system is maintained in accordance with the regulations in the Decree on petroleum business, ensuring sufficient supply for the distribution system. This is considered an important "safe buffer" in the context of the world market fluctuating unpredictably.
At the same time, Petrolimex proactively implements the 2026 source creation plan based on combining two main sources: Supply from two domestic oil refineries (Nghi Son Oil Refinery, Dung Quat Oil Refinery) and import according to plan. In particular, in the first 10 days of March, the enterprise increased the bringing of gasoline and oil with a volume equivalent to about 50% of the source import volume of the whole month, thereby increasing reserves early, minimizing the risk of disruption.
Accelerating the progress of goods import and supply allocation right from the beginning of the operating period not only helps ensure the safety of goods sources, but also contributes to stabilizing market sentiment in the context of rampant war information.
Petrolimex has also directed limited liability companies nationwide to proactively coordinate with local functional agencies to develop plans to regulate cargo sources suitable to the actual needs of each region. Units are required to strengthen close monitoring of consumption developments, especially in areas at risk of sudden demand fluctuations; promptly transfer goods between warehouses, ports, and general warehouses to ensure that there is no localized shortage of goods.
Petrolimex representatives also affirmed that they will synchronously implement solutions to ensure full satisfaction of consumption and production - business needs in Petrolimex's distribution system, contributing to stabilizing the domestic gasoline and oil market.
March supply remains stable
According to Mr. Cao Hoai Duong - Chairman of the Board of Directors of Vietnam Oil Corporation (PVOIL), a member unit of Vietnam National Petroleum Group (Petrovietnam), in normal conditions, PVOIL's gasoline and oil source is about 70-80% from domestic oil refineries, the rest is imported. Before the war broke out, PVOIL closed term contracts (Term) and spot contracts (Spot) to ensure demand for March and prepare for April.
When the Middle East war broke out, PVOIL worked again with two factories (Dung Quat Oil Refinery and Nghi Son Oil Refinery), currently, both factories have confirmed that the supply in March is still stable thanks to the available crude oil reserves. However, the developments in April are still an unpredictable variable depending on the war situation. To respond, PVOIL has proactively opened new import bidding lots, expected to increase 20-30% of the volume compared to the initial plan.
Diversifying import sources of LNG for electricity production and industry
For LNG (liquefied natural gas) serving electricity production and industry, Vietnam Gas Corporation (PV Gas) plans to import 3 LNG trips in the first half of 2026. The Corporation has successfully arranged 2 ship trips (each trip about 70,000 tons) from Qatar and Southeast Asia.
Thanks to early purchases before the conflict broke out, the unit has finalized a competitive price, up to 50% lower than the current market price. PV Gas is actively selecting suppliers for the 3rd shipment.
PV Gas affirms that with the current available inventory of 15,000 tons and a strict import roadmap, the corporation still ensures sufficient supply to serve electricity production until the end of April 2026.
The next phase from May 2026, the unit will continue to diversify import sources; at the same time, closely follow the direction of Petrovietnam to mobilize maximum domestic oil and gas exploitation to serve oil refineries and electricity production needs.
In parallel with market regulation, PV Gas focuses on increasing LPG production at Dinh Co and Ca Mau gas treatment plants in accordance with the plan to increase natural gas mobilization to the shore, expected to supply an additional 5% of domestic LPG production.
