Hanoi (VNA) – The Vietnam-Russia Joint Venture (Vietsovpetro), the PetroVietnam Oil Corporation (PVOIL) and the Binh Son Refining and Petrochemical Co Ltd (BSR) have signed a principle contract to supply crude oil from Bach Ho field for the Dung Quat oil refinery in the 2024-2027 period.
BSR is currently processing 11 types of domestic crude oil and 23 types of imported crude oil.
As of January 16 this year, BSR's processing volume topped 100 million tonnes, including 85.58 million tonnes of domestic crude oil, over 15 million tonnes of imported crude oil and 0.255 million tonnes of other materials.
Previously, the company had signed many long-term crude oil purchasing contracts with domestic oil owners and partners, including long-term contracts for 2021 - 2024 and 2024 – 2026 period to buy all crude oil from Bach Ho, Rong, Dai Hung and Te Giac Trang oil fields.
Bach Ho has supplied 53.4 million barrels of crude oil to Dung Quat refinery in the period from July 1, 2021 to June 30, 2024, accounting for 30% of the total amount of crude processed at the facility.
Bui Ngoc Duong, BSR General Director said that the company has implemented a long-term strategy to purchase crude oil in order to stay proactive in production and business.
The signing of the long-term supply contract is very important for BSR because Bach Ho crude oil output accounts for the largest proportion of the input material of the facility, he continued./.
