Petrovietnam (PVN) has reiterated its proposal to the Government to consider stronger measures in managing crude oil resources, including a total suspension of crude oil exports to prioritize domestic refining needs.

In response to unpredictable fluctuations in the global energy market as a result of the military conflict in the Middle East, the Government issued Resolution 36/NQ-CP on March 6, 2026, The Resolution outlines urgent solutions to ensure supply and manage fuel prices amidst rising geopolitical risks.

Specifically, the Resolution grants Petrovietnam and its subsidiaries greater autonomy in the trading and importation of crude oil and raw materials for fuel production to mitigate the risk of supply chain disruptions from the Middle East.

In a recent announcement, Petrovietnam stated it has proactively proposed and activated its emergency response mechanism. Within this framework, the group continues to urge the Government to adopt more decisive measures in managing crude resources, including halting exports to ensure that domestic refineries are prioritized.

Alongside policy-based solutions, Petrovietnam has reviewed its entire inventory of raw materials, including crude oil and intermediate products from both domestic and imported sources. This review aims to develop a stable operational plan for refineries in the coming months.

Furthermore, Petrovietnam has been working with international partners to secure additional crude oil supplies, supporting the Nghi Son Refinery and Petrochemical LLC (NSRP) in signing new procurement contracts to maintain production.

Meanwhile, the Binh Son Refining and Petrochemical JSC (BSR) is currently operating the Dung Quat Refinery at over 100% capacity, boosting the market's fuel supply and remaining ready to support NSRP if necessary.

Source: Vneconomy