Deputy PM orders fuel supply safeguards as Middle East crisis rattles energy markets

March 05, 2026 - 17:23
Officials have reviewed Việt Nam’s fuel supply situation and discussed measures to maintain stable energy supplies while supporting economic growth targets of 10 per cent or more in 2026.
Deputy Prime Minister Bùi Thanh Sơn speaks at the meeting on Thursday. — VNA/VNS Photo

HÀ NỘI — Deputy Prime Minister Bùi Thanh Sơn has instructed ministries and major State energy companies to prepare contingency plans to safeguard the country’s fuel supplies, as the escalating conflict in the Middle East raises concerns about global energy markets.

The directive came during the first meeting of a newly established Government task force on energy security on Thursday at the Government headquarters in Hà Nội.

At the meeting, officials reviewed the latest developments in the Middle East and assessed Việt Nam’s fuel supply situation, including the production, supply and import of petroleum products and coal.

The discussions also looked at measures to maintain stable energy supplies while supporting the Government’s economic growth targets of 10 per cent or more starting this year.

Sơn said the situation in the Middle East is evolving quickly and could have wide-ranging implications, particularly for the global energy supply.

He called for detailed planning to ensure national energy security, including studying ways to increase output from hydropower and coal-fired power plants, diversify coal imports and make greater use of domestic fuel sources.

The Ministry of Industry and Trade, which serves as the task force’s standing agency, was asked to work with the Government Office to draft operating rules for the group later that day.

The framework is expected to clarify responsibilities among members while allowing flexible coordination between ministries and agencies.

Meanwhile, the Ministry of Foreign Affairs was tasked with closely monitoring how countries respond to developments in energy markets and coordinating with other ministries to expand cooperation with partners and diversify energy import sources.

Prime Minister Phạm Minh Chính established the task force on Wednesday, aiming to strengthen coordination across Government agencies and key energy companies as global market conditions become more uncertain.

The group is responsible for tracking developments affecting fuel supply, assessing risks and recommending measures to ensure sufficient fuel for industry, businesses and household consumption.

It will also propose policy solutions and provide forecasts to help the Government respond quickly to potential disruptions in energy supply.

Sơn serves as head of the task force, while Lê Mạnh Hùng, acting minister of industry and trade, is the permanent deputy head.

Other members include senior officials from the Government Office and several ministries, along with leaders of major State-owned energy companies such as Vietnam Electricity (EVN) and the Vietnam National Petroleum Group (Petrolimex). — VNS

E-paper