Vietnam's BSR Signs Crude Oil Purchase Framework Agreement with ExxonMobil

en.Wedoany.com Reported - On September 23, Vietnam Oil Corporation (BSR) and ExxonMobil Asia Pacific exchanged a crude oil purchase framework agreement in New York, USA, for the Dung Quat Refinery in Vietnam. The agreement is a framework arrangement for crude oil procurement, and BSR's official announcement did not disclose the specific purchase volume, contract value, crude oil grades, or supply period.

BSR has continued to expand its sources of imported crude oil this year. The company disclosed that in 2026 it has signed a crude oil supply agreement with Chevron and added three new crude oil grades for testing, bringing the number of crude oil grades that the Dung Quat Refinery can process to 40, including 12 domestic Vietnamese crude oils and 28 imported crude oils. In 2026, the company completed a co-processing test of Nigerian Erha crude oil at a maximum volume ratio of approximately 45%, as well as processing verification of Sao Vang–Dai Nguyet condensate at a maximum volume ratio of approximately 12%.

The Dung Quat Refinery processed approximately 8.28 million tons of crude oil in 2025, with imported crude oil accounting for about 31% of total feedstock. BSR disclosed that in 2026 the proportion of imported crude oil is planned to remain at about 15%, with import sources covering West Africa, the Mediterranean, and Southeast Asia, while continuing to use domestic Vietnamese crude oil. With the signing of the framework agreement with ExxonMobil Asia Pacific, its international crude oil supplier system has added a new procurement channel.

This framework agreement was formed against the backdrop of BSR's recent expansion of international crude oil procurement channels. From September 7 to 10, BSR and Petrovietnam participated in the Asia Pacific Petroleum Conference, during which they engaged in procurement and cooperation discussions with multiple international crude oil suppliers; after completing the exchange of the framework agreement with ExxonMobil Asia Pacific on September 23, subsequent specific purchases still need to be implemented as single-batch or phased procurement arrangements based on crude oil grades, prices, transportation conditions, and refinery processing compatibility.