The National Assembly discussed at Dien Hong Hall the draft Law on Petroleum (amended)

Panorama of the discussion session at Dien Hong Hall, National Assembly House on the afternoon of October 25. Photo: Quang Khanh

Reporting to the National Assembly on the explanation, reception and revision of the draft Law on Petroleum (amended), Chairman of the National Assembly's Economic Committee Vu Hong Thanh said that the draft Law on Petroleum (amended) was submitted to the National Assembly for consideration and comments at the 3rd Session of the 15th National Assembly and received the attention and discussion of National Assembly deputies.

The draft Law after being accepted and revised includes 11 chapters and 69 articles (of which, 38 articles amend and supplement the content, 22 articles amend the wording and technical text, abolish 6 articles, add 11 articles and keep 4 articles unchanged).

Chairman of the National Assembly's Economic Committee Vu Hong Thanh presented a report explaining, accepting and revising the draft Law on Petroleum (amended). Photo: Quochoi.vn

Explaining specific issues, Chairman of the Economic Committee Vu Hong Thanh said, regarding the name of the draft Law: The name "Law on Petroleum" has been used consistently in petroleum activities since the Law on Upstream Petroleum Activities was promulgated in 1993 until now and is recorded in signed petroleum contracts. Therefore, the Standing Committee of the National Assembly proposed to keep the name of the draft Law as submitted, ensuring the inheritance, stability and continuity of the law on petroleum.

National Assembly delegates from Nghe An at the discussion session on October 25 at Dien Hong Hall, National Assembly House. Photo: Quang Khanh

Regarding the scope of regulation of the draft Law: Many opinions suggested adding to the scope of regulation of the draft Law on midstream and downstream petroleum activities, adding "synchronous chain petroleum projects" to the scope of regulation. The Standing Committee of the National Assembly believes that midstream and downstream petroleum activities are carried out in accordance with the provisions of relevant laws; in the implementation process, there are basically no problems. Regarding chain petroleum projects, to avoid confusion between the petroleum value chain and the synchronous chain of upstream petroleum activities, taking into account the opinions of National Assembly deputies, the draft Law has been revised, clearly stipulating in Clause 1, Article 42 on this content.

In addition, Chairman of the Economic Committee Vu Hong Thanh said that many opinions suggested reviewing and perfecting regulations on basic oil and gas investigations. In response to the opinions of National Assembly deputies, the draft Law has been revised in Article 10 to add regulations on: implementation mechanism, form of organization for implementation of the basic oil and gas investigation project; the leading task of the Ministry of Industry and Trade and assigning the Government to specify details of this Article.

Delegate Tran Thi Thu Phuoc - National Assembly Delegation of Kon Tum province said that it is necessary to add control mechanisms and evaluate more carefully the impact on national defense and security in selecting, signing and transferring oil and gas contracts. Photo: Quochoi.vn

Regarding petroleum contracts, some opinions suggested considering adjusting the regulations on the authority to approve petroleum contracts. The National Assembly Standing Committee recognized that petroleum product sharing contracts are important legal agreements between the State and contractors signing petroleum contracts (oil and gas investors), binding the rights and obligations of the parties participating in the exploration and exploitation of national petroleum resources, long-term in nature, with many specific contents related to national defense, security, sovereignty, sea surface... Therefore, it is necessary to stipulate that the Prime Minister approves the entire content of petroleum contracts, inheriting the provisions of the current Petroleum Law.

Chairman of the Economic Committee Vu Hong Thanh also reported and explained a number of issues related to basic investigations on oil and gas; oil and gas contracts; oil and gas activities; functions, rights and obligations of the Vietnam Oil and Gas Group in basic investigations on oil and gas and oil and gas activities and issues of state management, responsibilities of the State Capital Management Committee at enterprises in basic investigations on oil and gas and oil and gas activities...

At the working session this afternoon, delegates discussed the following contents: Basic investigation on oil and gas; oil and gas contracts; oil and gas activities; resource exploitation policies for oil and gas fields for exploitation and other issues of interest to National Assembly delegates. Minister of Industry and Trade Nguyen Hong Dien gave a speech to clarify the contents of interest to delegates.

Minister of Industry and Trade Nguyen Hong Dien gives an explanatory speech. Photo: Quang Khanh

Previously, the National Assembly listened to Minister of Industry and Trade Nguyen Hong Dien, authorized by the Prime Minister, present the Report and listened to Chairman of the National Assembly's Committee on Science, Technology and Environment Le Quang Huy present the Report on the examination of the draft Law on Protection of Consumer Rights (amended).