On March 10, the Department of Domestic Market Management and Development under the Ministry of Industry and Trade announced that the Acting Minister had issued a new directive requiring key petroleum traders and enterprises in the petroleum trading system to take the initiative in securing supply sources. Businesses are instructed to strictly implement their import plans and prepare contingency measures for the coming months to ensure adequate supply for the domestic market.
According to Official Dispatch No. 1488/BCT-TTTN dated March 9, 2026, the Ministry requires key petroleum importers to fully implement their registered plans for imports and procurement in March 2026, as committed to the management authorities. In addition, enterprises must urgently develop petroleum import plans for April 2026 in order to proactively secure supply.
The Ministry of Industry and Trade also reiterates that businesses must strictly refrain from stockpiling goods in anticipation of price increases and must not allow any disruption in supply throughout the petroleum distribution system, from key traders and distributors to retail outlets.
The directive was issued against the backdrop of ongoing volatility in the global energy market, as geopolitical tensions in the Middle East and the conflict between Russia and Ukraine continue to affect crude oil and refined petroleum prices on international markets.
Under Official Dispatch No. 1488/BCT-TTTN, the Ministry further requires key petroleum traders to strictly fulfill the minimum total petroleum supply quota for 2026 that has been allocated to them. Enterprises are also urged to forecast market developments proactively, diversify supply sources from both imports and domestic production, and maintain petroleum reserves in accordance with regulations.
For enterprises involved in petroleum production, the Ministry requests that they ensure stable crude oil imports and maintain safe and continuous operations at refineries such as Dung Quat Oil Refinery and Nghi Son Oil Refinery. In cases where refinery operations must be suspended for maintenance or encounter incidents affecting output, enterprises are required to promptly report to the authorities so that appropriate measures can be taken.
The Ministry of Industry and Trade will coordinate with relevant agencies to supervise the fulfillment of responsibilities related to petroleum supply and will strictly handle any violations in accordance with regulations.
