Database system

National Petroleum Management Database System Launched

VIETNAM, May 30 –

A gas station employee refuels a motorcycle. Photo baolongan.vn

HÀ NỘI — The Ministry of Industry and Commerce (MoIT) and the Ministry of Information and Communications (MoIC) have jointly launched a national oil management database system.

The MoIT said the system would improve state oil management, prevent illegal practices in the fuel sector and help authorities balance oil supply and demand.

In the first phase of development, two oil producers, 38 wholesalers and 329 distributors received accounts to register.

Data uploaded to the system and its relevant applications will strictly comply with data reporting and information security regulations.

The MoIT said it will continue to work closely with the MoIC to refine the system, thereby further improving state oil management through the application of IT.

Việt Nam currently has 38 oil wholesalers, 329 distributor traders and 17,000 retailers. Total oil supply is expected to reach 6.7 million cubic meters in the second quarter, including 3.7 million from domestic production, 1.5 million from imports and 1.5 million in reserve.

During the May 23 oil price adjustment, E5 RON 02 gasoline was increased from 680 VNĐ to 29,630 VNĐ per litre, and RON 95 III from 670 VNĐ to 30,650 VNĐ per litre. VNS