Wedoany.com Report-Aug. 15, On Thursday, industry sources reported that Vietnam’s Binh Son Refining and Petrochemical (BSR), based in Quang Ngai, Vietnam, purchased one million barrels of U.S. West Texas Intermediate (WTI) crude for delivery in November 2025. This marks Vietnam’s first U.S. oil acquisition of the year, signaling a shift in sourcing strategy for BSR, which primarily processes domestic crude.

A pump jack operates near a crude oil reserve in the Permian Basin oil field near Midland, Texas, U.S. February 18, 2025.

The WTI crude, known for its light-sweet quality, was acquired from Mercuria, a global commodity trading firm, according to the sources. A BSR board member, when contacted, declined to comment on the transaction, stating: “We are not in a position to discuss this deal.” The company also did not respond immediately to further inquiries.

This purchase aligns with Vietnam’s efforts to diversify its crude oil imports. Typically, BSR relies on supplies from Kuwait, Brunei, and Libya, with its last U.S. crude import recorded in December 2024, per data from analytics firm Kpler. The decision to procure WTI reflects its growing competitiveness in Asia, particularly for November deliveries, as Middle Eastern oil prices have risen, making U.S. crude a more cost-effective option.

The acquisition is part of broader trade commitments made by Vietnam, alongside countries like Indonesia and Thailand, to increase purchases of U.S. goods. These agreements aim to balance trade relations and support economic cooperation. A source familiar with the deal noted: “This purchase reflects Vietnam’s strategy to strengthen its supply chain flexibility while meeting international trade obligations.”

BSR, which operates the Dung Quat refinery, plays a key role in Vietnam’s energy sector, processing around 6.5 million tons of crude annually and supplying approximately 30% of the country’s fuel needs. The addition of U.S. WTI to its supply mix is expected to enhance refining flexibility and support stable fuel production. The deal underscores Vietnam’s growing engagement in global energy markets and its response to shifting market dynamics.

This strategic move highlights BSR’s adaptability in sourcing crude oil to meet operational demands while navigating global price trends. As Vietnam continues to expand its refining capabilities, such purchases may pave the way for further diversification of its energy imports in the future.