Seven fuel distributors have had their import license revoked from 1-2 months for violating safety and minimum stockpiling regulations, the Ministry of Industry and Trade has announced.
The decision was taken in July but only announced in August, so many merchants had been doing business with the distributors as usual for over a month.
Some of the seven distributors were even negotiating to buy petroleum products from Vietnam’s largest refinery via its sole distributor, the Petrovietnam Nghi Son Refinery Distribution Branch (PVNDB).
Under current regulations, it is illegal to trade with businesses that have had their license revoked. The PVNBD has asked the trade ministry for guidance to avoid legal risks.
“We are checking our books to see if we’ve worked with the distributors or not, while requesting directions from the authorities,” a fuel merchant said.
The ministry announcement said 11 other distributors have been fined a total of VND1.7 billion ($72,658) for violating various regulations.
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