09:47 | 12/09/2018 Energy
(VEN) - According to the Domestic Market Department under the Ministry of Industry and Trade, in the first half of 2018, consumption of E5 RON92 bio-fuel reached about 1.78 million cu.m, a year-on-year increase of 31.18 percent.
According to a government decision, as of January 1, all cities and provinces in Vietnam were instructed to stop selling RON 92 gasoline, and start selling five-percent bio-ethanol (E5) nationwide in a move to help ensure energy security and environmental protection. E5 has been sold in seven Vietnamese provinces since late 2014.
Total domestic petrol consumption reached about 4.43 million cu.m in the first half of the year, including about 1.78 million cu.m from E5 RON92 bio-fuel and about 2.65 million cu.m from RON95 gasoline.
Some units recorded a high consumption rate of E5 RON92 bio-fuel in the first half such as the Military Petroleum Corporation, PetroVietnam Oil Corporation, Hai Linh Co., Ltd., and Vietnam National Petroleum Group (Petrolimex). Nguyen Loc An, deputy director of the Domestic Market Department under the Ministry of Industry and Trade, said consumption of E5 RON92 bio-fuel in the reviewed period showed positive signals. There were no shortages of gasoline and national energy security was ensured.
Regarding the supply of raw materials, Nguyen Loc An said that in the domestic market, the Tung Lam Co., Ltd. is the only provider of ethanol E100 for E5 bio-fuel blending through two factories located in Dong Nai and Quang Nam with total production capacity of 200,000cu.m per year. In addition, the Binh Phuoc Ethanol Plant (100,000cu.m per year) and the Dung Quat Bio-Ethanol Plant (100,000cu.m per year) will resume their operation soon.
In addition to domestic supply, some petroleum companies have also imported ethanol E100. Although authorities have confirmed that E5 RON92 bio-fuel consumption is showing signs of improvement, many users are still cautious about this kind of gasoline, complaining that it results in engine trouble.
Retail prices of petroleum products are generally determined by wholesale traders and petrol distributors, however,
the retail prices cannot exceed the base price of petrol and oil set by the Ministry of Industry and Trade and the
Ministry of Finance.