The Ministry of Industry and Trade ensures sufficient petroleum supply in the second quarter of the year
The Ministry of Industry and Trade said, market The world’s petroleum continues to be complicated, the global supply of oil is still lower than the demand for oil because the world’s major oil suppliers have not yet restored their production capacity as expected; instability in some major oil supplying countries,… Currently, the world crude oil price has surpassed the threshold of USD 100/barrel and still has complicated movements.
Meanwhile, the domestic petroleum market in the first quarter of 2022 also experienced many fluctuations. The reason is because Nghi Son Oil Refinery (accounting for 35-40% of total supply) sharply reduced its production capacity, at times reduced its capacity by 85% and did not supply enough output as committed.
In addition, the source of petroleum from imports faced difficulties due to the sharp increase in prices and great competition when the supply was interrupted due to the armed conflict between Russia and Ukraine. Thanks to the promotion of imports and the supply efforts of petroleum wholesalers, the supply in the first quarter was basically guaranteed.
According to the Ministry of Industry and Trade, the total demand for petroleum for the domestic market in 2022 is expected to be about 20.6 million m3, of which a significant part comes from imports to make up for the shortfall from Nghi Refinery. Paint.
In which, gasoline demand in the second quarter of 2022 is expected to be about 5.2 million m3. Nghi Son Refining and Petrochemical Co., Ltd said it will supply 1.83 million m3, of which in April is 590,000 m3; May is 630,000 m3; June is 610,000 m3. However, the implementation of the plan depends on the implementation of financial solutions by the company.
In order to ensure a good domestic petroleum supply, the Ministry of Industry and Trade has directed the leading petroleum trading enterprises to increase the amount of imports, and at the same time assign the increased petroleum import volume in the second quarter of 2022 to 10 main traders of petrol and oil to supplement the shortage.
The ministry expects the supply of petroleum in the second quarter of about 6.7 million m3, from domestic production plants (expected 1.8 million m3 in Nghi Son Refinery, 1.9 million m3 in Binh Son Oil Refinery). ), the source of imports is about 1.5 million m3 and the source of inventory has changed from the first quarter to (1.5 million m3).
With the above supply, the Ministry of Industry and Trade affirmed, it will meet the consumption demand of the second quarter and the inventory will be about 1.5 million m3 in the third quarter.
In order to ensure the continuous supply of petroleum to the market, and at the same time provide timely support for production and business activities of enterprises and the daily life of people recovering from the Covid-19 epidemic, limit In recent years, the Inter-Ministry of Industry and Trade – Finance has made use of the Price Stabilization Fund for gasoline and oil products at a cost of 100-1,500 VND/liter.
From the beginning of the year until now, this tool has been used flexibly to ensure that domestic gasoline prices follow the trend of world gasoline prices but the increase is lower.
The Ministry of Industry and Trade is committed to continuing to coordinate with the Ministry of Finance and administration gasoline prices keep abreast of world gasoline price movements, in line with domestic petroleum supply and demand movements to ensure harmonization of interests among participants in the petroleum market, encourage businesses to maintain supply and limit supply. prohibiting acts of speculation or smuggling of petroleum across the border.
Gia Hung
at Blogtuan.info – Source: vietnamnet.vn – Read the original article here
