Prime Minister orders construction of additional oil reserve facilities
VGP - Prime Minister Pham Minh Chinh orders construction of more oil and petroleum reserve facilities beyond the planned site in Thanh Hoa province in a bid to ensure national energy security.
Prime Minister Pham Minh Chinh presides over a meeting on Wednesday to review preparations for the constuction of a crude oil reserve facility in Nghi Son area, Thanh Hoa province, Ha Noi, April 1, 2026. Photo: VGP
Pham made the order during a meeting held on Wednesday to review preparations for the constuction of a crude oil reserve facility in Nghi Son area, Thanh Hoa province.
The Prime Minister tasked the Ministry of Industry and Trade to mull over the construction of additional oil and petroleum reserve facilities in the central province of Quang Ngai, Ho Chi Minh City and other localities.
He urged the Viet Nam National Industry-Energy Group (Petrovietnam) to coordinate with relevant agencies and Thanh Hoa province to promptly commence the construction of an oil and petroleum in Thanh Hoa province's Nghi Son Ward.
The above project is not only an urgent requirement in terms of energy infrastructure but also carries strategic significance for economic development and national energy security, stressed Pham.
In the context of steadily rising fuel demand and heavy reliance on international markets for supply, proactive oil reserves will help Viet Nam mitigate risks from unpredictable fluctuations, said the Prime Minister.
At the same time, the crude oil storage facility in Nghi Son will enhance the operational efficiency of the refinery and petrochemical complex, optimize the supply chain, and create momentum for economic growth in the North Central region and the country as a whole./.
