The Ministry of Industry and Trade (MOIT) will review and approve requests for petroleum export licenses to ensure that exports do not negatively impact domestic fuel supply and demand.
New Decree on Fuel Trading to Replace Decree No. 83/2014/NĐ-CP
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Following the Government’s directive, the MOIT has drafted a new decree on petroleum trading, which will replace Decree No. 83/2014/NĐ-CP (dated September 3, 2014) and its subsequent amendments.
This draft decree has been submitted to the Government Office for feedback from Cabinet members.
In addition, the MOIT is also collecting public comments on a draft circular providing detailed regulations for the new decree, comprising 5 chapters and 23 articles.
Petroleum Export Must Follow a Registered Plan with MOIT
According to the draft, licensed petroleum trading enterprises and producers will be allowed to export petroleum and raw materials only based on registered plans with the Ministry of Industry and Trade.
The MOIT will assess each export request by reviewing domestic supply-demand conditions, ensuring that exports do not disrupt the domestic fuel market balance.
Only traders possessing a valid “Primary Petroleum Trading License” are permitted to engage in temporary import for re-export or fuel transshipment operations.
Mandatory Data Connection for Petroleum Traders
A key provision in the draft circular concerns the digital connection of petroleum business data.
Primary petroleum traders are required to electronically connect their business data with the MOIT, including:
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Infrastructure data related to fuel storage and distribution
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Distribution network data
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Import–export–inventory data
These systems must be compatible with the electronic program specified by the MOIT.
The Domestic Market Department will forward enterprise data files to the E-Commerce and Digital Economy Agency, which will then evaluate and issue a confirmation notice indicating whether the data integration has been completed or not.
Regulations on Fuel Retail Agency Contracts
The draft circular also stipulates details for:
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Fuel retail agency contracts
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Fuel franchise agreements
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Fuel purchase and sales contracts
These contracts must be in written form, clearly including:
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Business identities (name, tax code, address) of all parties
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Product specifications (type, quality, quantity)
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Delivery methods
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Commission rates, franchise fees, and fuel pricing mechanisms depending on contract type
This aims to standardize fuel trading practices and increase market transparency.
Global Fuel Price Reference and Pricing Mechanism
The draft circular also defines how global fuel prices will be referenced.
Specifically, global petroleum prices are determined based on transactions of refined petroleum products on international markets, compiled from reputable global information agencies.
The MOIT will publish the reference prices for major products—such as unleaded gasoline (100% fossil-based) and diesel fuel—used in domestic fuel pricing formulas.
For other petroleum products not covered by official announcements, enterprises must calculate prices according to the cost formula outlined in the new decree and the circular.
Measures to Stabilize Fuel Prices
To ensure price stability, and following the Government’s price management directives, the MOIT will guide provincial People’s Committees to determine and address causes of price fluctuations, in line with Decree No. 85/2024/NĐ-CP, which details the Law on Pricing and its amendments.