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blue-check Amendments to regulations on petrol and oil trading

Decree No. 95/2021/ND-CP dated November 1th, 2021 of the Government on amendments to some Articles of the Government’s Decree No. 83/2014/NĐ-CPstatus2 dated September 03, 2014 of petrol and oil trading
Posted: 2/11/2021 9:06:17 AM | Latest updated: 16/11/2021 4:24:24 PM (GMT+7) | LuatVietnam: 5324 | Vietlaw: 535
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This Decree amends, supplements to certain regulations on petrol and oil trading, including conditions for transferring shares to foreign investors; conditions on depots, means of transport, petrol and oil retail station system, etc.

Accordingly, if petrol and oil traders wish to sell shares to foreign investors, they must be allowed by the Prime Minister (except sale of shares to foreign investors that has been already approved by the Prime Minister).

A major petrol and oil trader shall be revoked the Certificate of eligible major petrol and oil trader in these cases: the trader does not trade in petrol and oil for at least 01 quarter; the trader fails to reach the minimum petrol and oil supply imposed by the Ministry of Industry and Trade for 02 consecutive years; the trader violates regulations on assurance of petrol and oil quality on the market many times, etc.

This Decree takes effect from January 2nd, 2022.

To abrogate clause 6 Article 9, clause 18 Article 19, clause 7 Article 15, clause 7 Article 18, Article 3, point e clause 1 and point c clause 2 Article 40 of Decree No. 83/2014/ND-CPstatus2 dated September 3rd, 2014.

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Effective Date 2-Jan-2022
ExpiredDate Unknown
Published Vietlaw's Newsletter No. 535
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enflag pdficon ND95-01112021CP[EN].pdf
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