Vietnam Government Inspectorate refers 7 fuel business cases to Ministry of Public Security

Vietnam petroleum sector Government Inspectorate fuel price stabilization fund invoice fraud Thanh Binh Petroleum

The Government Inspectorate of Vietnam has issued a wide-ranging inspection report regarding the petroleum business sector, uncovering significant legal violations. Following an inspection of 260 enterprises between July and October 2026, authorities identified seven cases with signs of criminal activity, which have been referred to the Ministry of Public Security for investigation.

A major focus of the investigation involves Thanh Binh Petroleum Trading Co., Ltd. and 12 related entities. The inspectorate found that between January 2024 and June 2026, the company allegedly used nearly 4,700 VAT invoices from 12 shell companies to legitimize the purchase of approximately 2.6 billion liters of fuel, valued at 42,600 billion VND. Financial tracking revealed that approximately 48,100 billion VND was transferred through various accounts to individuals and organizations, including 13,070 billion VND sent to 114 organizations.

Additionally, the inspection revealed that 188 out of 260 surveyed businesses showed signs of hoarding fuel, with inventory levels exceeding 150% of their three-month average in March 2026. The report also noted that 20 enterprises spent over 2,000 billion VND from the fuel price stabilization fund despite having unsold stock. The Inspectorate has recommended establishing a market-based fuel pricing mechanism and mandating IT applications to ensure price transparency.

Entities

Government Inspectorate of Vietnam · Ministry of Public Security · Nguyen Ngoc Son · Nguyen Quoc Doan · Thanh Binh Petroleum Trading Co., Ltd. · Vietnam

Claims

What the coverage asserts, and how many sources carry each claim.

[● 2 SOURCES] 20 businesses spent over 2,000 billion VND from the fuel price stabilization fund for goods not yet consumed.
[● 2 SOURCES] 188 petroleum businesses showed signs of hoarding fuel.
[● 3 SOURCES] The inspection covered 260 petroleum businesses, including 23 wholesalers and 237 distributors. baochinhphu.vn
[● 2 SOURCES] The Government Inspectorate referred 7 cases with signs of criminal violations in the petroleum business to the Ministry of Public Security. baochinhphu.vn · baoxaydung.vn
[○ 1 SOURCE] Thanh Binh Petroleum Trading Co., Ltd. allegedly used nearly 4,700 VAT invoices from 12 shell companies to legitimize fuel purchases. baoxaydung.vn
[○ 1 SOURCE] The value of the fuel purchases involving Thanh Binh Petroleum and 12 companies was approximately 42,600 billion VND. baoxaydung.vn
[● 2 SOURCES] The Government Inspectorate recommended building a market-based fuel pricing mechanism with state management.
[○ 1 SOURCE] Approximately 48,100 billion VND was transferred through various accounts to facilitate the Thanh Binh Petroleum transactions. baoxaydung.vn