Acting Minister of Industry and Trade Le Manh Hung inspects petrol and oil supply assurance ahead of the Lunar New Year 2026

Acting Minister Le Manh Hung led a delegation from the Ministry of Industry and Trade to inspect and work with Petrolimex Hanoi One Member Limited Liability Company, the Duc Giang petroleum depot under the Vietnam National Petroleum Group (Petrolimex), and Retail Petrol Station No. 85.

Accompanying the delegation were leaders of the Domestic Market Management and Development Authority, the Electricity Authority of Vietnam, the Department of Industrial Safety Techniques and Environment, the Department of Planning, Finance and Enterprise Management, the Ministry Office, along with other relevant units.

Reporting at the working session, Tran Huu Linh, Director General of the Domestic Market Management and Development Authority, said that Vietnam’s petrol and oil consumption in 2025 was estimated at around 26.4 million cubic metres/tonnes, averaging approximately 2.2 million cubic metres/tonnes per month for all fuel products, up 1.85% compared with 2024. 

At present, Petrolimex accounts for about 43% of the nationwide market share. With total domestic distribution volume exceeding 11.396 million cubic metres/tonnes, Petrolimex plays a pivotal role in ensuring national energy security and stabilising domestic fuel supply and demand.

Acting Minister Le Manh Hung inspects operations at Petrolimex Hanoi, the Duc Giang petroleum depot under the Vietnam National Petroleum Group (Petrolimex).

Regarding preparations to ensure fuel supply for consumption demand during the Lunar New Year 2026, Luu Van Tuyen, General Director of Petrolimex, said that in 2026 the Group had signed purchase contracts with suppliers for a total volume of around 7.8 million cubic metres/tonnes, equivalent to nearly 70% of domestic sales volume in 2025. 

He affirmed that the Group had put in place plans to ensure sufficient fuel supply across its distribution system before, during and after the Lunar New Year 2026. 

As for contingency scenarios, Petrolimex leadership said the Group had instructed its member units to proactively secure supply sources, ensure adequate fuel provision for the Petrolimex distribution network, and absolutely avoid any disruption in supply; retail outlets would maintain regular sales operations in line with registered operating hours.

In Hanoi, Petrolimex Hanoi has developed plans to proactively secure supply sources and transport capacity to ensure sufficient and uninterrupted supply for its retail outlet system and customers in the area, while also creating resources to support northern fuel companies under all circumstances.

Commending the proactive and serious spirit in ensuring petrol and oil supply, Acting Minister of Industry and Trade Le Manh Hung acknowledged that Petrolimex had fulfilled its mission well in contributing to national energy security in three aspects: ensuring sufficient supply, preventing supply disruptions amid crises; and building an effective corporate governance system that optimises costs, thereby enhancing accessibility for people and businesses.

Emphasising the role of a state-owned enterprise holding a leading position in the fuel market, Acting Minister Le Manh Hung underscored Petrolimex bears a very large responsibility in ensuring adequate, timely and continuous fuel supply for the economy. He urged Petrolimex to continue thoroughly implementing assigned policies and fulfilling its mission, ensuring petrol and oil supply the “lifeblood” of the economy under all circumstances.

Acting Minister Le Manh Hung delivers remarks at the working session.

To effectively carry out these tasks, Acting Minister Le Manh Hung requested Petrolimex to closely monitor global and domestic supply-demand developments in order to calculate and ensure adequate petrol, oil and crude oil sources; continue reviewing and closely assessing domestic fuel supply-demand conditions; proactively develop and implement appropriate reserve, import and supply regulation plans and ensure stable and continuous fuel supply throughout the period before, during and after the Lunar New Year 2026.

At the same time, Petrolimex was asked to organise its distribution and retail systems effectively; direct directly-managed fuel stations and agents to operate normally and sell products fully in accordance with prescribed operating hours. 

It should also closely adhere to State regulations on cost management and price administration, ensuring supply is not disrupted while remaining affordable for people and businesses. In business operations, Petrolimex needs to closely coordinate with State management agencies, especially the Domestic Market Management and Development Authority in reporting, information provision and timely handling of arising situations. 

In addition, the Group should strengthen safety assurance in fuel business operations, particularly fire prevention and fighting, safety at depots, ports and retail outlets, and ensure security and order at fuel sales points during the peak Tet period.

The Acting Minister also noted that Group leadership should pay attention to the lives and working conditions of employees, arrange reasonable Tet duty rosters, and ensure benefits and policies for workers in accordance with regulations. He affirmed that the Ministry of Industry and Trade would continue to coordinate closely with ministries, sectors and localities to closely monitor fuel market developments, promptly address difficulties and obstacles for businesses, and resolutely handle violations of law that affect energy security and consumer rights.

Acting Minister Le Manh Hung presents gifts to encourage Petrolimex staff and workers.

Acting Minister Le Manh Hung expressed confidence that, with its tradition, experience and strong sense of responsibility, the Vietnam National Petroleum Group would successfully fulfil its assigned tasks, contributing to ensuring stable fuel supply and helping people nationwide welcome the Lunar New Year 2026 in a safe, joyful and healthy manner.