State Bank :"It is not banks that are causing difficulties for oil and gas companies"
- 174
- Business
- 01:55 23/03/2023
DNHN - According to the State Bank of Vietnam, petroleum companies face difficulties due to the regulation on the cost of importing gasoline, the formula for calculating the base price

The State Bank has just sent a written response to the petitions sent by voters of Quang Binh province after the XV National Assembly's 4th Session and 2nd Extraordinary Session, with notable content about the granting of credit to petroleum enterprises.
Voters specifically requested that the State Bank support and create conditions for key petroleum trading enterprises to increase their credit limits, and gain access to preferential interest rates, and foreign currency sources to assist businesses and businesses. Businesses increase their financial resources and reduce their gasoline import and purchase costs.
According to voters, this creates the conditions for businesses to swiftly execute procedures for borrowing capital and purchasing foreign currency to ensure a timely and adequate supply of gasoline and oil and to maintain the market's gasoline supply. Under the direction of the Ministry of Industry and Trade, contributing to the maintenance of petroleum reserves, stabilizing national energy security, and avoiding supply disruptions.
In this regard, the State Bank stated that it has instructed commercial banks to prioritize the granting of credit to businesses operating in the petroleum production and trading industries.
"Specifically beginning in March 2022, in response to complex fluctuations in the global petroleum market and domestic petroleum supply and demand fluctuations, the State Bank has issued numerous directives instructing commercial banks to actively balance their portfolios." Consider creating conditions to increase the credit limit granted to key petroleum trading enterprises so that they can import gasoline and oil by the Ministry of Industry and Trade's import quota," the response stated.
The agency confirmed that all of the reporting banks have provided sufficient credit lines for petroleum wholesalers at preferential interest rates as well as sufficient foreign currency sources for importers of this product.
According to data provided by 27 commercial banks, the total credit limit granted by 27 banks to 34 key petroleum trading enterprises by December 2022 is VND 171,429 billion, and the credit balance is VND 75,379 billion. The limit granted by commercial banks to the petroleum industry is 96,053 billion (approximately 56% of the total limit granted by banks).
The interest rates that commercial banks offer to major petroleum trading companies are frequently more favorable than the market average. The interest rates for short-term loans in VND range from 5.3% to 9% per year, while those for medium- and long-term loans range from 9.4% to 10.5% per year. The annual interest rates on loans denominated in foreign currencies range from 2.1-4.5%.
"Through monitoring and understanding the situation, it has been determined that the cause of the petroleum market shortage is the abnormal movements of the global petroleum market, which has affected the domestic petroleum market and many businesses." The petroleum business was inefficient and experienced enormous losses, so the company limited its operations and imported sparingly.
The formula for calculating the base price is not appropriate, not because of the credit limit, and petroleum companies also face difficulties as a result of regulations relating to the import price standards for gasoline and oil. The commercial banks' interest rates or foreign currency supply, Governor Nguyen Thi Hong informed.
PV(t/h)
Related news
- Vietnamese entrepreneurs strengthen ASEAN connectivity in the digital iIntegration era
- Prime Minister: Vietnam aims to become a regional logistics hub
- Vietnam upgraded to Secondary Emerging Market by FTSE Russell
- Hanoi’s economy grows 7.92% in first nine months of 2025, FDI surges nearly threefold
- Vietnam’s strong gdp growth fails to ease labor market distress
- US tariffs on Brazil propel Vietnam’s pangasius into global spotlight
- VietLeap AI Accelerator launches: A strategic springboard for Vietnam’s AI startups
- CICON expands strategic alliances: A new step forward in Vietnam–Korea business connectivity
- What must Vietnamese enterprises do to maintain their position in the global supply chain?
- Vietnam advances cybersecurity law to boost digital sovereignty and business resilience
- Vietnam embraces digital tools to modernize public administration
- Administrative procedures for establishing the national technology exchange reduced to one application set
- Vietnam hits highest FDI inflow since 2009, fuels industrial real estate boom
- Foreign investors expected to open 150,000 new securities accounts in the next 5 years
- Government’s plan to implement Law on Digital Technology Industry approved
- Vietnam launches “Private Economy Panorama Model” to foster public-private national development
- Shark Nguyễn Hòa Bình: Hanoi will become the capital of startup innovation.
- Deputy Prime Minister Lê Thành Long meets with Osaka Governor Yoshimura Hirofumi to promote Vietnam–Japan cooperation.
- The master sales secrets of luxury king Bernard Arnault that make the world spend
- White House: When politics and technology join forces to rewrite the global AI order
Đọc thêm Business
Vietnamese entrepreneurs strengthen ASEAN connectivity in the digital iIntegration era
On the occasion of Vietnam Entrepreneurs’ Day (October 13), an international event themed “Integration – Innovation – Sustainable Development” was solemnly held in Ho Chi Minh City.
Vietnam upgraded to Secondary Emerging Market by FTSE Russell
FTSE Russell has officially upgraded Vietnam’s stock market to Secondary Emerging Market status, effective September 2026, marking a historic milestone for the country’s financial integration and global investment appeal.
US tariffs on Brazil propel Vietnam’s pangasius into global spotlight
Vietnam’s pangasius industry eyes $2 billion worth of exports in 2025 amid shifting US trade policy and a global supply realignment.
CICON expands strategic alliances: A new step forward in Vietnam–Korea business connectivity
On the afternoon of September 26, 2025, a strategic cooperation signing ceremony took place between CICON (Korea) and its key Vietnamese partners, including the Ho Chi Minh City Association of Small and Medium Enterprises (HUBA), Doanh nghiệp & Hội n
What must Vietnamese enterprises do to maintain their position in the global supply chain?
Mr. Lu Wei Chieh, General Manager of Cathay United Bank – Ho Chi Minh City Branch, shared with Business & Integration Magazine key strategies that can help Vietnamese enterprises not only stand firm but also go further amid shifting global dynamics.
Vietnam hits highest FDI inflow since 2009, fuels industrial real estate boom
This robust inflow is not only transforming the country’s industrial landscape but also signaling Vietnam’s rising role in the global supply chain amid shifting geopolitical dynamics.
Foreign investors expected to open 150,000 new securities accounts in the next 5 years
The Ministry of Finance has set an ambitious target to increase the number of securities trading accounts held by foreign investors in Vietnam to 200,000 by 2030—four times higher than the current figure.
Vietnam launches “Private Economy Panorama Model” to foster public-private national development
Billionaire Nguyen Thi Phuong Thao emphasizes that entrepreneurs’ responsibilities extend beyond profits to creating social value.
Deputy Prime Minister Lê Thành Long meets with Osaka Governor Yoshimura Hirofumi to promote Vietnam–Japan cooperation.
As part of his working visit to Japan and participation in the Vietnam National Day at EXPO 2025 Osaka, on September 8, Deputy Prime Minister Lê Thành Long held talks with Osaka Governor Yoshimura Hirofumi.
Larry Ellison’s lesson: Enduring success starts with fixing the market’s pain points
As of today, Larry Ellison has risen to become the world’s second-richest billionaire with a fortune of nearly $260 billion, surpassing familiar names such as Jeff Bezos and Warren Buffett.