Việt Nam ensures sufficient fuel supply through April amid global uncertainties

Việt Nam ensures sufficient fuel supply through April amid global uncertainties

Importers brought in approximately 3.2 million cubic metres of fuel in March. Combined with current inventories of around 1.6–1.8 million cubic metres, this volume is expected to fully meet domestic demand until the end of April.

Importing fuel products at a distribution point at Hải Phòng Port. — VNA/VNS Photo

Việt Nam’s domestic fuel supply is sufficient to meet demand through the end of April 2026, authorities said at the Government’s regular press conference on April 4, amid rising global energy concerns linked to the escalating tensions in the Middle East.

Deputy Minister of Industry and Trade Nguyễn Sinh Nhật Tân noted that the ongoing conflict has significantly disrupted global oil and gas supply chains, with impacts surpassing previous oil shocks in scale and intensity. In response, the Politburo, the Government and the Prime Minister directed relevant ministries early in March to prepare two fuel supply scenarios – one for the short term of about four weeks and another for a longer period. The longer-term scenario is currently being implemented.

The Ministry of Industry and Trade has closely followed the guiding principles to ensure energy security, stabilise the domestic fuel market, and balance the interests of the State, businesses and consumers. These include monitoring global price fluctuations, adjusting domestic prices accordingly, and assessing impacts on production, business activities and household consumption.

To support fuel market management, the ministry has advised the Government to issue several resolutions on fuel governance, while coordinating with the Ministry of Finance to propose temporary budget advances for the fuel price stabilisation fund.

Regarding supply, as of March 31, output from the Dung Quất Oil Refinery had increased by 10 per cent. Both the Dung Quất and Nghi Sơn refineries have secured sufficient crude feedstock to maintain production through the end of April.

In addition, importers brought in approximately 3.2 million cubic metres of fuel in March. Combined with current inventories of around 1.6–1.8 million cubic metres, this volume is expected to fully meet domestic demand until the end of April, according to the deputy minister.

Looking ahead, the ministry will continue taking measures to strengthen domestic production capacity, diversify energy sources, expand the use of alternative fuels such as E10 biofuel, and improve the storage capacity, he added.

On electricity supply, Tân reaffirmed the Government’s stance of ensuring no power shortages, particularly during the upcoming peak dry season. The national power system operation plan for 2026 has been approved, with contingency measures prepared for periods of high demand.

Electricity demand is projected to grow by over 14 per cent during peak months, while April alone is expected to see a year-on-year increase of about 6.07 per cent. Total power output for 2026 is estimated at 350 billion kWh, up 7.9 per cent from 2025.

Despite challenges such as unpredictable weather patterns and pressure on fuel supply for power generation, authorities remain confident that energy supply will be maintained, supported by close monitoring, system maintenance, and strengthened operational discipline.

The ministry also called for more efficient electricity use to help ensure stable and sustainable energy supply nationwide. 

Bizhub