Company Incorporation Services In Vietnam

Petroleum business

Last modified: 22/04/2021

1. Legal Based. WTO, FTAs, ACIA

Decree 23/2007 / ND-CP dated February 12, 2007

Circular 34/2013 / TT-BCT dated December 24, 2013

2. Detailing Conditions

2.1. WTO, FTAs, ACIA:

  • Do not exercise the right to distribute crude oil and processed oil.
  • Petroleum production: not specified in the Schedule.

2.2. The law of Vietnam:

  •  Scope of operation

– Foreign-invested economic organizations are not allowed to exercise the right to export petroleum and oils obtained from bituminous minerals, in crude form; crude oil; condensate gas and others.

In case the foreign investor is an oil and gas contractor under the provisions of the Petroleum Law, it is entitled to export its owned part of oil and gas.

– Foreign-invested economic organizations are not allowed to exercise the right to import oil derived from petroleum and oils obtained from bituminous minerals, except crude oil; Preparations not elsewhere specified or included, containing 70% or more of which are petroleum oils or oils obtained from bituminous minerals, these oils are the basis of that preparation; waste oil (specifically listed in Circular No. 34/2013 / TT-BCT).

– Economic organizations with foreign investment are not allowed to exercise the right to distribute crude oil and processed oil, including: petroleum and oils obtained from bituminous minerals, in crude form; Oil derived from petroleum and oils obtained from bituminous minerals.

– The foreign-invested economic organization may produce petroleum on the conditions consistent with the approved planning.

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