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National Assembly Member Le Ngoc Son, Chairman of the Board of Members of Vietnam National Industry and Energy Group (Petrovietnam) proposed to clearly stipulate the two legal statuses of Petrovietnam with the role of both an oil and gas contractor and a representative of the host country. Download The National Assembly discussed at the Group on the draft Petroleum Law (amended), under the co-chairing of National Assembly Chairman Tran Thanh Man and Secretary of the Ho Chi Minh City Party Committee Tran Luu Quang, Head of the Ho Chi Minh City National Assembly Delegation. On the afternoon of August 4, participating in the discussion at the Group on the draft Petroleum Law (amended), National Assembly Delegate Le Ngoc Son assessed that the draft Petroleum Law (amended) in 2026 has made great progress compared to the Petroleum Law of 2026. 2022, especially on decentralization, decentralization and investment incentive mechanisms. Commenting on Petrovietnams role in the draft Law, National Assembly Member Le Ngoc Son said that the draft stipulates the rights and obligations of the Group in the direction of clearly separating the two roles. First, Petrovietnam is an independent contractor, directly signing oil and gas contracts, fully implementing the rights and obligations like contractors and other investors according to the provisions of the Oil Law. Second, Petrovietnam performs a number of functions assigned by the State as a representative of the host country, undertaking a number of state management tasks in oil and gas activities. According to him, this approach contributes to forming a specific management model for upstream oil and gas activities, clearly defining the scope, powers and responsibilities of each subject in the appraisal, approval and approval process, and ensuring there is a unified focal point to represent the host country in the negotiation process. negotiate, sign and implement oil and gas contracts. However, National Assembly Member Le Ngoc Son said that the provisions in Articles 56, 57, 58, 59 as well as the listed contents in the draft still do not fully demonstrate these two legal statuses. The inspection report of the Law and Justice Committee also proposed that the draft Law clearly stipulates the role of Petrovietnam as a representative agency of the host country to ensure the legal basis. when performing assigned tasks. From practical implementation, delegates suggested clarifying the production and business functions of enterprises and political tasks assigned by the State in Chapter XI of the draft Law. According to delegates, clear regulations will ensure transparency, feasibility, and legal safety in implementation, and at the same time be consistent with the spirit of Resolution No. 79/NQ-TW of the Politburo on clearly delineating political tasks, non-profit tasks with production and business functions. There needs to be a mechanism to handle expenditures Petrovietnam makes on behalf of the State. Regarding Article 60 of the draft Law, delegate Le Ngoc Son said, the Petroleum Law was first issued in 1993 and through many amendments, different forms of oil and gas contracts have been formed. For many contracts signed in previous periods, the State, through Petrovietnam, fulfills the tax payment obligation on behalf of the contractors, then recovers it through profits from oil and gas exploitation activities. According to him, during the period when the mines had high exploitation output, the revenue from oil and gas exploitation profits was enough to cover these obligations. However, when output declined and revenue was no longer enough, Petrovietnam had to mobilize the enterprises resources to fulfill the States financial obligations. He emphasized that this is a specific problem that arose during the process of Petrovietnam performing its role as representative of the host country. Therefore, in principle, there needs to be a mechanism to handle expenses that the Group makes on behalf of the State. According to delegates, in recent times, many issues have arisen due to lack of legal regulations, so they must ask for policies from the Politburo. For example, the handling of VAT on previous projects had to be reported to the Politburo, and then the National Assembly issued a resolution so that the Government could have a basis to refund Petrovietnam. If the Law clearly stipulates handling principles from the beginning, it will create a legal basis for management agencies to resolve the matter more transparently, consistently and conveniently, the delegate proposed. Download National Assembly Delegate Le Ngoc Son, Chairman of the Board of Directors of Vietnam National Industry and Energy Group (Petrovietnam) spoke at the discussion session at the Group. Proposal to restore the Oil and Gas Search and Exploration Risk Fund. National Assembly Member Le Ngoc Son also proposed studying the restoration of the Oil and Gas Search and Exploration Risk Fund. According to him, in the past this fund was used to serve the search and exploration of oil and gas - a field with a very high level of risk because there are It may be successful, but it may not discover commercial reserves. In addition to the goal of serving search and exploration activities, the fund is also used for defense and security tasks at sea such as building rigs and tasks in island areas. Currently this fund is no longer maintained. The delegate proposed restoring the fund to serve basic investigation, search, and oil and gas exploration as well as defense and security tasks in deep-water and offshore areas with complex geological conditions, risks and strategic significance for the country. At the same time, it was proposed that the Government assign specific regulations on the mechanism to deploy and control the use of the funds resources.According to National Assembly Delegate Le Ngoc Son, in the context of increasing requirements for ensuring security and energy autonomy, basic investigation,
