Hanoi (VNA) – The Petrovietnam Refining and Petrochemical Corporation (BSR), a member of the Vietnam National Industry-Energy Group (Petrovietnam), has signed a framework agreement with ExxonMobil Asia Pacific to expand crude oil supply options for the Dung Quat Refinery.
The agreement was exchanged on September 23 in New York, during a high-level roundtable between General Secretary of the Communist Party of Vietnam Central Committee and President To Lam and leaders of major US businesses.
The ceremony took place during the Vietnamese top leader's working trip to the US from September 20-23 to attend the high-level general debate of the 81st session of the UN General Assembly and conduct bilateral activities.
The agreement comes as BSR is diversifying its crude oil sources, increasing operational flexibility and strengthening its ability to respond to unpredictable developments in the global energy market.
Since early 2026, BSR has actively sought, assessed and expanded crude oil supplies from various regions, including the US. The company has also signed crude oil supply agreements with Chevron to help secure stable feedstock for the refinery.
The ability to process a wide range of crude oils has become an important advantage of the Dung Quat Refinery. Since the beginning of 2026, BSR has successfully tested three new crude oil grades, bringing the total number of crude types that can be processed at the refinery to 40, including 12 domestic and 28 imported grades.
In 2026, BSR has also mastered the processing of Nigeria's Erha crude, with a maximum blending ratio of about 45% by volume, and Sao Vang-Dai Hung condensate, with a maximum ratio of around 12%.
Expanding its crude oil portfolio gives BSR greater flexibility in selecting feedstock according to market conditions while reducing reliance on traditional sources.
In 2025, the Dung Quat Refinery imported about 8.28 million tonnes of crude oil, with imported crude accounting for around 31% of its total supply.
In 2026, BSR has prioritised domestic crude supplies to ensure feedstock availability and cope with geopolitical uncertainties, while maintaining imports at around 15%. Imported crude is sourced from various regions, including West Africa, the Mediterranean and Southeast Asia.
The framework agreement with ExxonMobil Asia Pacific will further expand BSR's international crude oil supply network and provide an additional source of feedstock for the Dung Quat Refinery.
It is also in line with BSR's strategy of strengthening feedstock security, improving its ability to respond to fluctuations in the global oil market and enhancing the refinery's operational capacity./.
