Prime Minister orders prompt construction of strategic petroleum storage depot to enhance national energy autonomy
VGP - Prime Minister Pham Minh Chinh has ordered prompt construction of a strategic oil and petroleum storage depot in Thanh Hoa province's Nghi Son Commune in a bid to enhance national energy autonomy.
Prime Minister Pham Minh Chinh chairs a meeting with the task force established to ensure national energy security amid the military conflict in the Middle East, Ha Noi, March 26, 2026 - Photo; VGP
The Government chief made the above order in Ha Noi on March 26 while chairing a meeting with the task force established to ensure national energy security amid the military conflict in the Middle East.
The Prime Minister requested that there must be no shortage of petroleum supply, adding that petroleum production and trading activities must be healthy and transparent.
He tasked the Ministry of Industry and Trade to continue ensuring the supply of imported crude oil for the coming months and direct key petroleum traders to maintain adequate fuel supply for the domestic market.
The Ministry of Finance was assigned to manage fuel prices in line with daily market movements and in accordance with legal regulations; coordinate with relevant agencies to assess the impact of global uncertainties and propose extending the implementation of the Government’s Decree 72/2026/ND-CP through June.
The State Bank of Viet Nam was required to direct credit institutions to continue facilitating access to loans by petroleum production and trading enterprises in accordance with the law.
The Government leader urged the Ministry of Science and Technology to promptly address issues related to regulations and standards and support customs clearance and certification for imported petroleum shipments in order to shorten licensing time and bring fuel into circulation as quickly as possible, thereby ensuring supply./.
