VietnameseDecision No. 1139/QD-TTg of July 31, 2009, approving development planning of reserve system of crude oil and petroleum products of Vietnam to the year 2015, a vision toward 2025
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Decision No. 1139/QD-TTg of July 31, 2009, approving development planning of reserve system of crude oil and petroleum products of Vietnam to the year 2015, a vision toward 2025
| Issuing body: | Prime Minister | Effective date: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Official number: | 1139/QD-TTg | Signer: | Nguyen Tan Dung |
| Type: | Decision | Expiry date: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Issuing date: | 31/07/2009 | Effect status: | Known Please log in to a subscriber account to use this function. Don’t have an account? Register here |
| Fields: | Others |
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THE PRIME MINISTER --------- | SOCIALIST REPUBLIC OF VIETNAM Independence - Freedom - Happiness -------------- |
No.: 1139/QD-TTg | Hanoi, July 31, 2009 |
DECISION
APPROVING DEVELOPMENT PLANNING OF RESERVE SYSTEM OF CRUDE OIL AND PETROLEUM PRODUCTS OF VIETNAM TO THE YEAR 2015, A VISION TOWARD 2025
THE PRIME MINISTER
Pursuant to the Law on Organization of Government dated December 25, 2001;
Pursuant to the Decision No,386/QD-TTg dated March 09, 2006 of the Prime Minister approving the development strategy of the Vietnam gas and oil industry, the period of 2006 – 2015, and a vision toward 2025;
At the proposal of Minister of Industry and Trade,
DECIDES:
Article 1. Approving the development planning of reserve system of crude oil and petroleum products of Vietnam to the year 2015, a vision toward 2025 with the following main contents:
1, Development perspective
To develop reserve system of crude oil and petroleum products of Vietnam in order to stabilize domestic petroleum products consuming markets, stabilize production capacity of petrochemical refineries, ensure energy security and in accordance with the development trend of the domestic petroleum market.
To minimize harm to the economy in case of supply source of crude oil on the world market have an abnormal decrease and contribute to increase a certain economic efficiency in case the world oil price spikes.
To maximize the ability of various types of reserves and the fastest rescue possibility in the emergency situations.
To plan the appropriate reserve policies according to each stage of economic - social development and market oriented.
2, Development orientation
To set up a system of reserves terminals allocated corresponding to fuel consuming demand of the areas/regions in the country; optimize costs of investment, management, and operation.
For commercial reserve: scale and development progress of respective petroleum terminal system suitable to the needs of each region in each period.
For production reserve: scale, investment schedule, type of crude oil terminals and terminals of petroleum products in accordance with the processing capacity, product structure and production planning of petrochemical refineries.
For the national reserve: locations of the national terminals must be ensured security, absolute safety; optimize the roads to transport crude oil and petroleum products to the petrochemical refineries and consuming areas.
3, Development objective
Since 2015, the total scale of the reserve system of crude oil and petroleum products in Vietnam should reach at least 90 days of net import, meeting the criteria of the International Energy Agency (IEA).
The reserve system of crude oil and petroleum products of Vietnam includes commercial reserve, production reserve and national reserve, Schedule and scale of reserve systems for crude oil and petroleum products are in Appendix I, Section 1 attached.
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