Regulations on Petrol Agent supplemented and revised
Ministry of Commerce on May 22, 2007 has issued Decision No.11/20078/QD-BTM in which some regulations on Petrol Agent are revised and supplemented attached with Decision No. 1505/2003/QD-BTM dated 17/11/2003 by Minister of Commerce.Enterprises of all economic sectors satisfying petrol business conditions stipulated in Decree No.55/2007/ND-CP are allowed to do business in terms of petrol wholesale and retail in domestic market under the form of agent in line with stipulations and responsible for petrol price, quantity and quality as committed in agent contract. The main agent shall sign contract with a petrol enterprise as a first agent. The first agent can provide gasoline just to the agents in its system according to signed contract. A gas station is allowed to sell only gasoline provided by the first agent. Based on petrol price as well as obligation and interest of the first agent stipulated in part 1, Article 6 Decree No.55/2007/ND-CP, the first agent will make decision on price, including price before delivery from the first agent, retail price at agents belonging to the first agent and all retail agents in its system.
The Decision was posted in Official Gazette on June 21, 2007 and would take effect from 15 days later, counting from the date of Gazette post.
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