Speaking at the first regular meeting of the government for its 2026-2031 term, Hung said the country had overcome a challenging period in the second quarter while maintaining uninterrupted fuel and power supplies.
“Despite severe market volatility in April, the Ministry of Industry and Trade, together with the Ministry of Finance, successfully ensured domestic fuel supply under the direction of the government and the prime minister,” Hung said.
He said the country’s commercial petroleum reserves had increased significantly, improving Vietnam’s ability to respond to external shocks and strengthening the resilience of its energy system.
Domestic refining operations have also remained stable, with refineries running at high capacity under coordinated production plans to support local supply, he added.
Electricity supply was similarly maintained, with total power generation reaching around 30 billion kilowatt-hours in April, equivalent to more than 1 billion kWh per day.
Peak electricity demand rose to about 52,000 megawatts, up 12 per cent from a year earlier, while output increased nearly 7 per cent.
Hung said the national power system operated safely throughout the Reunification Day (April 30)-May Day holiday period without any grid or generation disruptions.
The figures showed Vietnam’s energy system was not only meeting rising demand but also maintaining operational stability despite growing external and domestic pressures, he said.
However, the minister warned that risks remained elevated as instability in the Middle East persisted and global supply conditions tightened.
He said output from the Organisation of the Petroleum Exporting Countries (OPEC) had fallen by about 7.7 million barrels per day due to export restrictions, increasing uncertainty in global energy markets.
Domestically, energy demand continues to rise alongside economic recovery. Vietnam’s industrial production index grew 9.2 per cent in the first four months of the year, with manufacturing up 9.9 per cent and electricity production and distribution rising 10.9 per cent.
The mining sector also returned to growth, expanding 4 per cent after contracting 4.6 per cent in the same period last year, reflecting efforts to improve energy self-sufficiency through increased domestic oil and gas production.
To strengthen long-term energy security, the ministry proposed accelerating energy project implementation, expanding renewable energy development, particularly rooftop solar, and fast-tracking revisions to the national Power Development Plan VIII under streamlined procedures.
