The proposal was raised in the ministry’s report to the Government about the national petroleum reserve. In Việt Nam, petroleum reserves are kept in two forms: reserve by businesses and the national reserve. This has caused a shortage of resources for investing in infrastructure for petroleum reserve, the industry and trade ministry said. In addition, the Ministry of Finance has not issued the criteria for the national reserve of petroleum products, which has caused difficulties in management. It was previously estimated that Việt Nam would need around VNĐ4.1 trillion per year to increase the national petroleum reserve.

Source: Viet Nam News December 12, 2023 02:41 UTC