A representative of the Ministry of Industry and Trade (MoIT) has confirmed that Vietnam has a sufficient supply of fuel for local use and offers solutions if a shortage occurs in the market. Tran Duy Dong, head of the Directorate for Market Surveillance under the MoIT, made the confirmation at a meeting on February 9 amidst concerns about fuel shortages in the country. Over the past few days many petrol stations in several southern and central localities have suspended operations or cut working hours due to petrol A95 shortages. Several fuel trading businesses expressed their concerns about a limited supply of petrol A95 after Nghi Son Oil Refinery and Petrochemical Plant, the largest of its kind that makes up one third of local demand, announced it had cut its production capacity since January due to financial problems. At the meeting Dong assured Vietnam currently has between 1.8 and 2 million cubic metres of fuel to sufficiently meet local demand in February, but added supply may decrease in March as inventory is low compared to normal months. However, The head of the market watchdog agency played down worries, saying Nghi Son Oil Refinery is scheduled to run at full capacity from… Read full this story
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