Petroleum business rules eased under new resolution

The Vietnamese government has introduced Resolution No 19/2026/NQ-CP, effective from April 29, 2026, to simplify administrative procedures and ease business conditions in the petroleum sector. Key changes include the elimination of several licensing requirements for general petroleum agents and streamlined processes for primary traders and distributors. While infrastructure requirements remain for wholesale traders, conditions related to leasing ports and storage facilities have been abolished. Experts believe these reforms could lower compliance costs and enhance market flexibility, but emphasize the need for robust post-inspection mechanisms to ensure safety and environmental standards are maintained.