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According to Vietnam Oil and Gas Group (PVN), it is not feasible to buy oil with “bottom price” because we do not yet have mechanisms and policies on risks for this activity (buying oil at “bottom price” leads to losses). On the other hand, at present, in Vietnam there are no national oil reserve depots, while the crude oil storages of Dung Quat and Nghi Son refinery plants can only meet production needs of these plants. It is also not feasible to rent an oil tanker (at least at this time), because of difficulty of our financial potential.

Deputy Prime Minister Tran Hong Ha has just signed Decision No. 861/QD-TTg dated July 18, 2023, approving the national planning infrastructure for reserving and supplying petrol, oil and gas (in the period 2021 - 2030, with a vision up to 2050).

The Deputy Prime Minister (DPM) Trinh Dinh Dung has just signed a decision on approving the tasks of the national infrastructure planning project for gasoline and gas reserve and supply in period of 2021-2030, with a vision up to 2050.

Information from the Vietnam Oil and Gas Group (PVN) said: With the drastic implementation of "The package of solutions to cope with the double impact of the Covid-19 pandemic and deeply falling oil prices", in recent 6 months, PVN all activities were ensured safely and for the first time since 2016 the 'reserve offset' factor (between increasing reserves and production) reached 1.19 times - safety level for sustainable development.

Vietnam National Coal and Mineral Industry Holding Corporation Limited (Vinacomin) has directed its units to carry out business by a prior way to survey Northeast coal area for enhancing reserve from – 300 m up and verifying reserve at a level below – 300 m in order to carry out designing improvement and extension of the existing mines and developing new mines with more large capacity.