The affected company is Hai Ha Waterway Transport Company Limited (Hai Ha Petro), headquartered in Diem Dien Town, Thai Thuy District, Thai Binh Province.
Previously, the Government Inspectorate had identified irregularities in the petroleum business sector, explicitly pointing out Hai Ha Petro as one of the three key enterprises that improperly utilized the Fuel Price Stabilization Fund (funds generated from the petroleum prices paid by consumers).
Facing consistent financial losses and an inability to settle debts, this business had its debts subtracted by BIDV Long Bien Branch (Hanoi) from the Fuel Price Stabilization Fund's account held at the bank. However, following public outcry, BIDV later refunded the deducted amount from Hai Ha Petro. Apart from misusing the Fuel Price Stabilization Fund, this company also submitted inaccurate declarations and had outstanding environmental protection tax debts amounting to billions of Vietnamese dong.
In late October 2023, the Thai Binh Provincial Tax Department publicly disclosed that Hai Ha Petro had the largest debt in the region, amounting to over VND1.78 trillion.
Beyond Hai Ha Petro, recent statements from the Ministry of Industry and Trade indicate that they are currently reviewing the possibility of revoking the license of Thien Minh Duc Company, a prominent petroleum entity in Nghe An Province, due to violations related to the misuse of the Fuel Price Stabilization Fund and taxes.
According to the conclusions drawn by the Government Inspectorate, numerous petroleum wholesalers had inaccurately declared environmental protection taxes, totaling in the billions of Vietnamese dong. As of October 2023, these companies' collective outstanding tax debts exceeded VND6.32 trillion. Consequently, the inspection authority has recommended transferring the violation records of fuel wholesalers such as Hai Ha Petro, Thien Minh Duc, and Xuyen Viet Oil to the Ministry of Public Security for further investigation and action.
The Thai Binh Provincial Police, in collaboration with the Investigation Police Agency (C03) of the Ministry of Public Security and other relevant units, conducted a search and inspection at the general petroleum storage warehouse of Hai Ha Petro, situated in Thai Thuong Commune, Thai Thuy District (Thai Binh Province). The petroleum storage facility in Thai Thuong Commune spans a total land area of 66,664 square meters and has a capacity of 63,000 cubic meters, equipped with 11 tanks for storing petroleum. This facility serves as a key petroleum supplier to many customers nationwide.
Given that companies like Hai Ha Petro are crucial fuel suppliers across multiple localities in the Northern region, on January 12, following the revocation of their operating license, the Ministry of Industry and Trade issued a document to Vietnam National Petroleum Group, Vietnam Oil Corporation, and Military Petroleum Corporation, urging these entities to ensure a consistent and reliable petroleum supply in the provinces of Thai Binh, Quang Ninh, Hai Phong City, and Hanoi City. The goal is to prevent potential petroleum shortages in these provinces and cities, particularly during the 2024 Lunar New Year.
