Since the two refineries came on stream, Vietnam has been able to meet about 70% of its domestic fuel demand, significantly reducing reliance on imported refined products compared with the previous period, he said, adding the remainder is supplemented through imports from overseas markets. Since the Middle East conflict disrupted crude and refined fuel supply chains, Petrovietnam has swiftly activated a range of response measures while moving decisively to implement the Government’s Resolution 36/NQ-CP dated March 6, 2026 to secure energy supply for the market. Petrovietnam has proposed that the Government consider halting crude oil exports to prioritise domestic refining demand. Alongside refined fuel, crude imports have also been maintained to secure feedstock for the two refineries. Thanks to diversified supply sources, proactive import, and flexible use of the fuel price stabilisation fund, the domestic fuel market is now largely meeting demand, helping curb price hikes.

Source: VietNamNet News March 24, 2026 04:20 UTC