16 November 2021
The Government issued Decree No. 95/2021/ND-CP dated 01 November 2021, to amend and supplement several articles of Decree No. 83/2014/ND-CP on petrol and oil trading with the following main contents:
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Supplement on share transfer for foreign investors. Specifically, in addition to petroleum traders who have been approved by the Prime Minister to contribute capital or transfer shares to foreign investors. In case a petrol and oil trader have petroleum production activities, if he/she wishes to transfer shares to foreign investors, he/she must obtain permission from the Prime Minister.
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Based on the actual situation at the enterprise, the general petrol and oil distributor and petrol and oil distributors shall decide the retail price of petrol and oil in their distribution system in accordance with the actual incurred costs of the enterprise. At the same time, the costs incurred are not higher than the operating price announced by the competent authority.
However, for areas far from ports, key warehouses, and far from petrol and oil production facilities: if there are reasonable and valid actual costs incurred, leading to higher selling prices than operating prices, the petrol and oil wholesaler may decide the actual selling price in that area to cover the incurred costs, but not exceed 02% of the announced operating price at the same time.
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Modifying conditions for petrol and oil import and export traders. Accordingly, traders must have a petroleum distribution system:
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At least 10 petrol and oil retail stores are owned or leased with a lease term of 5 years or more, in which at least 5 stores are owned by trader.
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At least 40 petrol and oil general agents or petrol retail agents or petrol and oil retail franchisees under the trader’s distribution system.
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For the main trader of aviation fuel, it is not required to have a distribution system but must satisfy the following additional conditions:
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Having a means of transport, aeronautical refueling vehicle in accordance with regulations and standards for aviation fuel, owned or rented with a lease term of 5 years or more.
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Having a receiving warehouse at the airport with equipment and facilities that meet the standards of aviation fuels owned or rented with a lease term of 5 years or more.
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Having a qualified testing laboratory owned or rented to check the quality of aviation fuel products according to national and international standards according to current regulations.
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For petrol and oil retail agents, this Decree amends the conditions on retail stores as follows: Having a petrol and oil retail store owned or leased with a lease term of 5 years or more, such agent is granted Certificate of eligibility for petrol and oil retailing according to regulations.
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Conditions for petrol and oil retail stores:
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Being owned or leased with a lease term of 5 years or more of a trader being a petrol and oil retail agent or petrol and oil general agent or petrol and oil retail franchisee or a petrol and oil distributor or the general trader of petrol and oil or the general trader of petrol and oil production having a distribution system as prescribed.
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In the case of renting a petrol and oil retail store, the tenant trader must have his/her name on the Certificate of eligibility for petrol and oil retailing.
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