In the first half of 2023, 16 distributors had their eligibility certificates cancelled for one to three months. — VNA/VNS Photo

In Decision No. 1170/QD-BCT, the MoIT has revoked the eligibility certificate granted to Đức Hạnh Co., Ltd., a petroleum distributor located in Hồng Bàng District, Hải Phòng.

Similarly, the eligibility certificate of Minh Phát Petroleum Transportation and Trading Co., Ltd. has been revoked according to Decision No. 1172. The company’s headquarters is located in Bình Thạnh District, HCM City.

Petrolink Commercial and Supply Chain Co., Ltd. in Ba Đình District, Hà Nội, also had its licence cancelled in the same decision.

The fourth case involves the revocation of the licence for Ngọc Khánh Trading and Transportation Service Co., Ltd. The company is located in Điện Bàn Town, Quảng Nam Province.

According to a recent report submitted to the ministry, the Vietnam Directorate of Market Surveillance conducted inspections on 86 petroleum distributors in 2023.

It has fined 64 businesses over VNĐ6.72 billion (US$263,933) for administrative violations and collected over VNĐ1.54 billion from illegal gains. 

As a result, the agency contributed around VNĐ8.8 billion to the state budget. 

In the first half of 2023 alone, 16 businesses had their eligibility certificates revoked for one to three months. 

The Vietnam Directorate of Market Surveillance found common violations among petroleum distributors, such as trading outside the regulated system and signing contracts with multiple distributors. Out of the 64 penalised entities, 23 cases accounted for over a third of violations.

The main errors were failure to register the distribution system with the competent authority, fraudulent declarations in the registration, and employing untrained personnel in fire prevention, firefighting and environmental protection.

During inspections, the market management force found that 17 out of the 64 penalised entities, or 26.5 per cent of the total, did not meet the requirements for the distribution system. —  VNS