National energy security cannot stand before gaps in petroleum reserves

Cannot maintain a dependency-based approach petroleum reserves

At the National Assembly forum, during discussions on the socio-economic situation, Delegate Dang Ngoc Huy, Member of the National Assembly Delegation of Quang Ngai Province, raised an issue of strategic significance for the country’s sustainable development: national petroleum reserve security. From the perspective of practical governance and the requirement to ensure energy supply for the economy, the delegate considered this a “gap” that cannot continue to persist, as without being promptly addressed, all growth achievements could be at risk.

According to Resolution No. 70 of the Politburo, the target has been set that by 2030, petroleum reserves must reach approximately 90 days of net imports. However, in reality, current national reserves only meet about 7 to 10 days of consumption; even when combined with commercial reserves, the maximum level is only around 30 days. The gap between the strategic target and the actual reserve capacity is substantial, clearly reflecting delays in infrastructure preparation and policy implementation.

Delegate Dang Ngoc Huy directly highlighted the situation through a striking warning: “We cannot operate a dynamic economy, with a scale of approximately USD 514 billion, ranking 32nd in the world, with a fuel tank that is constantly on empty warning.” This statement is not merely figurative, but a strong reminder that petroleum reserves must be positioned at the appropriate strategic level and recognized for their role within the structure of national economic security.

A key point raised is the identification of governance gaps in the current reserve system. Accordingly, national reserve stocks are still being stored together in the tanks of key petroleum enterprises. According to the delegate, this approach does not ensure the principle of independent management in terms of quantity and quality as stipulated by the Law on National Reserves. This shortcoming is not only technical in terms of storage infrastructure, but also directly relates to the State’s capacity for control, transparency, and proactiveness under conditions of significant fluctuations in the energy market.

From this, the delegate posed a straightforward question: “Why do we still not have an independent national reserve storage system?” This question underscores the urgent need to change governance thinking, shifting from a dependent and temporary approach to investing in a strategic reserve system that is independent, modern, and capable of meeting the requirements of ensuring energy security in the new period. As long as there is no clear separation between strategic reserves and commercial reserves, the risk of passivity in management, and even the emergence of risks in emergency situations, will persist.

In the context of a world that continues to evolve rapidly, complexly, and unpredictably, geopolitical instability, regional conflicts, supply chain disruptions, or incidents along key maritime routes can all directly affect petroleum supply and prices. Therefore, investment in national reserves cannot be regarded merely as a cost, but must be identified as an investment in macroeconomic stability, in self-reliance capacity, and in the resilience of the economy. As the delegate emphasized, “we cannot wait until we are ‘thirsty’ to start digging a well.”

A binding roadmap, real resources, and a sufficiently strong legal framework are required

From the identification of the current situation, Delegate Dang Ngoc Huy expressed agreement with the orientation of focusing on ensuring national energy security, including the establishment of a large-scale crude oil storage system and the maintenance of a stable supply of at least 90 days as stated in Government Report No. 186. This viewpoint clearly reflects the requirement to elevate energy security to an essential component of national security, associated with the goal of rapid, sustainable, and more self-reliant economic development.

To ensure that this objective does not remain merely a policy orientation, the delegate proposed three groups of breakthrough solutions. First, it is necessary to decisively allocate budgetary resources and adopt specific mechanisms to immediately commence the construction of an independent national reserve storage system, completely separated from commercial storage facilities. Second, a concrete roadmap must be issued, under which reserve levels reach 60 days by 2028 and 90 days by 2030. Third, it is necessary to urgently amend the Law on National Reserves and relevant decrees to establish a legal framework that enables the mobilization of socialized resources for investment in storage infrastructure, while ensuring that control over the reserves remains entirely with the State.

It can be observed that the remarks of Delegate Dang Ngoc Huy not only highlight a major shortcoming in ensuring energy security, but also propose concrete solutions with clear timelines, defined policy responsibilities, and explicit requirements for institutional improvement. This represents a responsible and substantive voice aligned with national interests in the context of the country’s pursuit of rapid development alongside the maintenance of stability.

Energy security cannot be ensured through piecemeal solutions. National petroleum reserves also cannot continue to operate in a state lacking independence and strategic depth. From the National Assembly floor, the proposals of Delegate Dang Ngoc Huy once again underscore the need for more decisive, earlier, and stronger action to build an energy shield commensurate with the scale of the economy, strengthen national proactiveness, and firmly safeguard the country’s development space in the period ahead.