Prime Minister Pham Minh Chinh issued a dispatch on January 24 directing relevant ministries and agencies to take measures to ensure the supply of petroleum products for production and trade and people’s daily lives, particularly during the upcoming Tet (Lunar New Year) holiday.

The directive said the global situation is forecast to continue being complex and unpredictable, affecting the price and supply of petroleum products in domestic and global markets.

The Prime Minister asked the Ministry of Industry and Trade to regularly monitor domestic and global petroleum markets, regularly check and guide the allocation of petroleum and oil sources in line with market developments, and prepare plans to ensure the supply of petroleum products in all circumstances.

The Ministry was also instructed to coordinate with other relevant ministries and agencies to impose strict punishments on any organizations and individuals found to have violated petroleum business activities, and to work with the Ministry of Finance to adjust petroleum prices in accordance with current regulations and market circumstances.

The Chairman of the Commission for Management of State Capital at Enterprises and the Ministry of Industry and Trade are to direct the Vietnam Oil and Gas Group (PetroVietnam) and the Vietnam National Petroleum Group (Petrolimex) on preparing appropriate production and distribution plans.